Southern Cross Austereo books revenue lift in first year under Blackley, predicts better to come
The return to form of Southern Cross Austereo under the leadership of Grant Blackley has been confirmed after the company reported a jump in net profit of 19%.
Southern Cross reported a lift in revenue for the full year of 5.1% to 642.3m with net profit after tax of $77.2m. Earnings before interest, tax, depreciation and amortisation were up by 2.8% to $167.7m.
The result came on the back of the broadcaster’s landmark deal with Nine Entertainment Group to take over affiliate broadcast rights from WIN in April.
It’s the first full-year result since Blackley took the helm of the embattled business at at the end of June last year after the departure of his predecessor, Rhys Holleran.
Well done Grant. Thought you must have been up to something good in that big office!!
Robbo.
Well done, Grant. Thought you must have been up to something good in that big corner office.
Robbo.
It shows the benefit of having a metro leader running the business instead of the former who would never rise above regional status.