Sea/Mix report profits during March

Oceania Capital, the controlling shareholder of Eon Broadcasting, which operates Sea FM and Mix FM on the Sunshine Coast, has released its annual report for FY13 to the market.

Included in the report is a summary of the financial performance of Sea FM and Mix FM, albeit only for one month.

The report shows that the two radio stations reported revenue during March of $732,000, recording profit of $273,000, an operating margin of 38%.

Given Oceania have as majority shareholder a South African based company, Hosken Consolidated Investments, they report on the South African financial year of 1 April to 31 March.

Oceania Capital shares (OCP) remained unchanged at $1.60 per share.