Southern Cross has extended its voluntary suspension on the ASX

Chris Pash
By Chris Pash | 3 April 2020
 
Getty

Broadcasting group Southern Cross Media has extended its voluntary suspension on the ASX. 

The company says it is still assessing the impacts of the COVID19 crisis on its business. 

"SCA now expects that it will be in a position to make an announcement to inform the market about these matters before commencement of normal trading on Wednesday, April 8." 

This is the second extension since it first announced a trading halt on March 23. 

The company's net debt, as reported in February, was $330.5 million, up 12%. The market capitalisation, based on the last traded share price, was $188.4 million.

In its half year results, Southern Cross posted an 8.2% fall in revenue to $308.11 million in a tough advertising market.

Net profit after tax was $20.4 million for the six months to December, up from a net loss of $119.3 million in the same half in the prior year.

Profit, excluding significant items, was down 32.7% to $26.62 million.

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