Prime radio earnings fall

The Prime Media Group have today released their half-yearly financial results to the market, and the radio results do not make for 'pretty' reading.

Referring to their radio operations in Queensland, Prime have told the market that ‘tough trading conditions persist’ and ‘radio continues to struggle in a depressed market still recovering from the effects of tropical cyclone Yasi and wide-spread flooding that occurred in calendar year 2011’.

The headline financial results for the Prime Radio group for the six months to 31 December are:

Revenue:   $ 10.46m – a decline of 6% on pcp (previous calendar period)
EBITDA:     $ 2.53m – a decline of 3% on pcp

The consolidated Prime Media group reported EBITDA of $ 33.6m, an increase of 3%, from revenue of $138.7m, up 5%.

Prime Radio operates the Zinc brand on the Sunshine Coast, in Gladstone, Mackay, Townsville and Cairns, Hot 91 Sunshine Coast, 4RO Rockhampton, 4MK Mackay, 106.3 Townsville and 4CA Cairns.