Southern Cross Media has reported a bumper jump in first-quarter earnings ahead of its planned merger of equals with Seven West Media.
The group — which boasts Australia’s biggest commercial radio network — told investors on Thursday its total audio revenue for the three months to the end of September was $105.1 million — tracking 4.7 per cent higher than the previous year.
It said underlying earnings before interest, tax, depreciation and amortisation of $14 million for the first quarter was up 129 per cent compared with the same period last financial year and a strong sales performance continued to deliver commercial share gains in both broadcast and digital spaces.
SCA chief executive John Kelly said the group’s positive operating momentum had continued into the new financial year, w