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.
- 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.
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