SCA release their half-yearly numbers

Staff Writer

The Southern Cross Austereo Group have today released their half yearly results to 31 December 2012.

Consolidated revenue fell by 10 per cent to $327.68 million. Radio revenue fell 1.8% in the period, however television revenue fell 16.5% due to the poor ratings at the Ten Network, who supply SCA's regional television group.

SCA CEO Rhys Holleran said: “We have had one of the most difficult twelve months in our history. Despite this, we have produced a result that has met market expectations through rigorous operational management.”

Southern Cross Austereo reported a 52% drop in NPAT to $45.1m, although this was impacted by an abnormal tax benefit of $39.5m in the previous corresponding period.

Metropolitan radio revenue fell by 6% to $135m, regional radio fell by 2% to $84m. This resulted in an EBITDA decline of 16% to $104m. Holleran was particularly positive about regional radio stations in the SCA stable;

"Local advertising markets were positive for the first time in a while and that's a good sign, if you measure our regional radio business against the broader media market, it is probably a pretty good result and I think it says a lot about our diversified client base and a mix heavily weighted towards local advertising."

“We are well positioned to take advantage of any upturn in advertising markets. Sentiment is on the improve in advertising circles and our talented and dedicated staff are fine tuned and ready to respond.”

For those who have shares in SCA, the company has declared a fully franked dividend of 4.5c per share. Shares in SCA were up nearly 10% late in trade today on the ASX.

See more detail in their results presentation here

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