SCA Full Year Results Reflect “Weaker TV Ad Market”

SCA Full Year Results Reflect “Weaker TV Ad Market”

Southern Cross Austereo has released its full-year financial results ending 30 June 2015. CEO of SCA, Grant Blackley called the results “disappointing”.

B&T Magazine
Posted by B&T Magazine

The results from the investor presentation show net profit after tax, excluding significant items, dropped 18.7 per cent, down to $64.8 million.

While the revenue was at $611.1 million for the full-year, it was a 4.6 per cent drop from the previous year.

SCA reports its regional radio advertising revenue growth was up by 3.5 per cent.

Of the results, CEO Blackley said: “The full year FY 2015 results reflect a weaker television advertising market and a reduced, but stabilised metro radio market share.

“Whilst the financial results have been disappointing, I am excited by the opportunities that the Group presents and have begun implementing a number of strategic and operational initiatives that are focussed not only on delivering short term improvements in financial performance, but positioning Southern Cross Austereo for long term success.”