SCA announces revenue growth

Southern Cross Austereo has released the 2016 Half Year results showing a 25% leap in profits.

“We’re delighted that we’ve been able to accelerate the balance-sheet repair and get to a position where the company is financially sound,” Mr Blackley, who joined Southern Cross in June, told Fairfax Media.

Highlights included:

  • Advertising revenue up across metro and regional media assests.
  • Net debt reduced.
  • Interim dividend increased from 3.00 cents per share to 3.25 cents per share.

“These results demonstrate material progress in the operational turnaround of SCA.”

Overall, Southern Cross reported a 25.1 per cent jump in net profit to $43.4 million, with revenues increasing 4.7 per cent to $322 million.

Read more here.


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