Thursday, February 21, 2013

Australia: SCA is a great radio business. Television, not so much

[ Photo: Radio Info, Australia ]
Radio Info, Australia reports that regional radio steady earner on back of local advertisers - radioinfo was at the SCA half year profit announcement

At a relatively subdued meeting of the media Southern Cross Media, CEO Rhys Holleran and CFO Stephen Kelly announced that the company had made a net profit after tax of 45.1 million dollars. And that’s just for the first half of this financial year. Trouble is, it’s less than half (48%) of what it was last year. Still, its slightly better than what most pundits expected.

The question around the room that hung on most people’s lips was how much of that profit shortfall could be attributed to what was being euphemistically called the “UK Incident?”

The answer is about 3.6 million dollars all up. A huge amount of money as an extraordinary item, to be sure, but insignificant compared to the fall in revenue from SCA’s regional television assets.

More at RadioInfo


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