Pacific Star cash flow softens

Pacific Star, the parent entity of SEN and MyMP in Melbourne, have released their quarterly financials to the market.

The results show an operating cash flow for the quarter of 109k, from revenue in that period of $3.47m.

The 9-months of the financial year look healthier with operating cash flow at $1.24m.

In the Pacific Star half-yearly financials in February the company commented that their earnings had been impacted by a soft radio advertising market, sales changes in the business, and lower revenue due to the relaunch of MyMP (following the MTR exit).

"These events have negatively impacted the half-year result by $250-$350 thousand. Measures have been initiated to address this issuie and to reduce costs and we anticipate a stronger second half result"

"The company remains cautiously optimistic and is budgeting for a full year EBITDA in the range of $1.3m – $1.5m"

Pacific Star this week reported that it presently holds $2.57m cash, down from $2.86m 3 months ago. Shares in the company are presently trading at 18c, giving the company a nominal valuation of $9.56m.