Southern Cross appoints new chairman, reports profit slump of 24 per cent
Southern Cross Media has posted a half year result showing a slump in profits and a decline in revenue for the second half of 2014. 
The company also confirmed Peter Bush as its new chairman. He replaces Max Moore-Wilton who has been chairman since 2007.
Net profit after tax was down to $34.7 million, a 24 per cent decline, and revenue was down to $307.6m, a 7.3 per cent fall. The company’s EBITDA of $85.m was also down 18.3 per cent.
Net profit of $34m isn’t bad even if it is slightly down. How’s Mumbrella faring this year?
Sam – a 24% drop in profits can hardly be described as “slightly down”. In business jargon a 24% drop in profits is better described as “up sh** creek” and quite possibly “without a paddle”.
i have no idea how anyone in their management team still have jobs! This result on their watch is deplorable and they are responsible
Clearly the shareholders need to remove them given they won’t jump themselves