Southern Cross Austereo sees 25% leap in profits and predicts more growth from radio

Alex Hayes

February 22, 2016 8:38

Blackley: bullish on radio growth

Southern Cross Austereo has seen a significant upswing in fortunes posting a 25% profit growth according to its results for the first of the financial year.

The radio and regional TV provider posted profits after tax of $43.379m, with revenues up 4.7% to $322m from $307m, with the company bullishly predicting further revenue growth across its metro radio assets, which include FoxFM in Melbourne, 2DayFM in Sydney and the TripleM network.

“These results demonstrate material progress in the operational turnaround of Southern Cross Austereo,” said CEO Grant Blackley in the results release to the ASX (ASX:SXL).

Subscribe to keep reading

Join Mumbrella Pro to access the Mumbrella archive and read our premium analysis of everything under the media and marketing umbrella.

Alex Hayes

Alex Hayes worked for Mumbrella from 2013 to 2017 in roles including editor and head of Mumbrella Bespoke.

Topics