Audio broadcaster SCA, fresh from finalising the sale of its television assets, reports revenue up 5% for the year to the end of June.
In a trading update, the company reported “consistent growth” in market share.
The full year result was helped by the one-off impact in April of federal election advertising.
The audio revenue market slowed in the last two months of the financial year but bookings for July and August are pacing at a level in line with the 5% reported growth.
“With the successful divestment of our regional TV assets, our entire strategic focus is now All About Audio,” said CEO John Kelly.
“This clarity is already delivering results. As our share of audio revenue grows, we remain disciplined on costs and are committed to giving advertisers unmatched access to the Audience That Matters - Australians aged 25 to 54.
“We have delivered a strong revenue result for FY25 with revenue growth of 5% and early indications for July and August show this trend continuing across both our broadcast and digital audio platforms.”
SCA also announced the completion of the sale of its remaining television assets in Tasmania, Spencer Gulf, Broken Hill, Mt Isa, Darwin and Remote, Central and Eastern Australia to Seven West Media.
This transaction marks SCA’s full divestment of all television assets, aligning with the company’s All About Audio strategy.
SCA has applied the upfront cash of $3.75 million from the sale of the remaining TV assets to reducing debt. Net debt is about $68 million, down from $107.5 million a year ago.
The total consideration from the sale of SCA’s television assets is in the range of $19 to $24 million.
This includes both the Seven West cash and $15 to $20 million from the sale of TV licences to Network Ten.
SCA reported revenue up 5.3% to $209.7 million for the half year to December, delivering on its "transformation strategy". Net profit after tax was up 5.5% to $3.2 million.
Based on the transaction consideration of $3.75 million, the acquisition will be immediately earnings accretive in FY26.
Seven West Media said the acquisition was small but strategically important, solidifying the network's position as Australia’s leading regional commercial television broadcaster.
“Our ongoing commitment is to ensure that our regional communities can access our local and national news bulletins, our compelling sport lineup including AFL, Test and BBL cricket, and our premium entertainment programming," said CEO Jeff Howard.
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