SCA’s profit falls 21% after ‘under-performance’ of 2Day FM breakfast

February 23, 2018 10:31

Southern Cross Austereo’s revenue for metro radio fell 3.0% to $121.4m in the first half of the 2018 financial year, with the company citing the struggling Sydney breakfast show as the reason for the decline.

Overall NPAT [net profit after tax] also fell 21.2% from $48.5m in the first half of FY17 to $38.2m, the company said in an ASX update today.

SCA: Working to improve its balance sheet

EBITDA [earnings before interest, tax, depreciation and amortisation] for metro radio was also down 12.3% from $30.9m compared to the end of the first half of FY17 to $27.1m. Overall EBITDA also fell 15.7% from $347.8m to $324.8m.

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Vivienne Kelly

Vivienne Kelly was previously the editor of Mumbrella from 2016 to August 2020.

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