Reporting Season: MRN – Net Profit down to $13.3 Million

August is traditionally the time that publicly listed companies release their results for the financial year. First cab off the rank today is Macquarie Media Network (ASX: MRN). This is the first full report card on the network since it merged with Fairfax Radio in 2015. So how does it stack up?

Shareholders will see a dividend this year of 2 cents per share, fully franked and payable in September, and overall they have seen a 5 percent year on year revenue growth. It also appears that they are realising their cost savings post-merger which will carry on into the next financial year of 2017.

The Financial Years 16 results reflect the full 12 months of the merged company, but MRN Executive Chairman Russel Tate says you can’t compare them to FY2015, saying: “The accounting treatment required of FY2015 results renders them meaningless for comparing FY2016 operating performance”.

Cutting to the chase, the acquisition of Fairfax was at the time a reverse acquisition to meet accounting standards.

So you can compare 2014 to their 2016 performance below.