SCA say this quarter ‘low water mark for the year’

At the Southern Cross Media Group AGM today, chief executive Rhys Holleran has said…

"Our first quarter trade has indeed been difficult. We continue to navigate through a difficult environment and it is about as difficult as we've seen since the early 1990s."

"Having seen these numbers I think it should be noted that this quarter should be seen in our view as the low water mark for the year."

Revenue for the radio and TV group is down 10% in the first three months of this financial year, while local sales had fallen 5.1% and national sales were down 15.2%.

Read more in the Financial Review here