Southern Cross Austereo has had its worst ever start to a financial year. Can Listnr change the trajectory?; And a bad day for Enero
Welcome to a Friday edition of Unmade, during one of the busiest weeks of results season. Yesterday, Southern Cross Austereo, Enero and Domain all updated the market. As you’ll read below, the long term profit trend for SCA is downwards, while the outlook for Enero spooked investors.
The team from Unmade is also behind RE:Made – Retail Media Unmade. Taking place in just a fortnight from now, REMade is the retail media sector’s first Australian conference. View the program here.
How Southern Cross Austereo’s profits have fallen for the last dozen years
As somebody who thinks more slowly than they speak, I need to write things down to find out what I really think. And when I don’t know where to begin, I build a graph.
That particularly helps when you’re trying to work out the long term story of a business. The nature of the financial world is to compare things to the previous year. Sometimes that can hide the trend.
Great read Tim…incredible to see the markets maul Enero on great first half results. “Macroeconomic headwinds” are powerful indeed.
Really interesting analysis. Good job!
Thanks Dominic – much appreciated!
Incredible work as always Tim
You’re most kind Luke!
Tim G’day, An important SCA extra dynamic you seem to have forgotten; SCA held Nine Affiliation 2016/17 – 2020/21
Hi Steve,
Thanks for the comment. When I used he words “main affiliate deal” I was letting the word main do a lot of the heavy lifting! I had a sense that I was in danger of over-writing today’s piece, so left out the relatively brief switcheroo between SCA/WIN and Nine/Ten (not least because although there was an effect on both, the impact was greater on revenue than profit)
All the best,
Tim