Triple M & Hit Network regional rebrand contributed to SCA’s strong half year results
SCA has announced a revenue increase of 9.2% – primarily due to its TV assets – with revenue surpassing $351.79million for the first half of the financial year.
It’s a good result given the advertising market has been flat of late, but there is still some good news for shareholders with SCA issuing a fully franked dividend of 3.75 cents per share.CEO Grant Blackley said the results demonstrate the depth and strength of a diverse media company that is outperforming the market in each of its categories.
“We have been systematically resetting SCA for success by focussing on our financial performance, our operational effectiveness in our existing businesses and investing in new growth opportunities that leverage our expertise in audio and entertainment.”
Blackley also said the rebranding of its regional radio stations – 28 for Triple M and 40 for the Hit network, had contributed to the welcomed boost in performance.The acquisition of Authentic Entertainment, which included the sales representation deal for music video platform Vevo, strengthened the company’s digital business according to Blackley.SCA saw a net profit after tax of $48.48million, which is up 11.8% on the December half, with earnings before interest, tax, depreciation and amortisation up 1.3% to $92.6million.The company warned that a challenging advertising market would see limited growth for the remainder of 2017.