SCA earnings are down 12.8% on last year

Southern Cross Austereo has announced its financial results for the year ended 30 June 2018.

Revenue for Southern Cross Media Group Limited was down 5.3% to $654.1million with a further 12.8% reduction on earnings before interest, taxes, depreciation, and amortization (EBITDA),  down to $154.7 million.
The group maintains a strong cash flow conversion and has maintained the final dividend at 4.00 cents per share, fully franked.
While the metro markets haven’t performed particularly well, SCA’s revenue has been driven by regional markets.
Regional radio revenue was up 4.6%, led by national regional revenue up 15.3%.

Regional TV was also up 3.6% on a like-for-like basis.
Southern Cross Austereo CEO Grant Blackley says:

“Driven by stronger Metro ratings and launch of the digital radio monetisation strategy, SCA has taken positive momentum into the new financial year…  For the full year, group revenue was up 0.6% on a like-for-like basis.”

radioinfo spoke to Grant Blackley about the results, read the report here.

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