Southern Cross Media Profit $45.1m, down 52% 1H2013

Southern Cross Austereo (ASX:SXL) have released its first half report for FY 2013 to shareholders, traders and investors.

• Southern Cross Austereo net profit was $45.1 million, down 52 percent from $94 million in the previous corresponding period.
• The company was notably in the centre of a prank call scandal involving its 2DAYFM network, which resulted in a suicide and consequently advertisers exited the network.
• Southern Cross Austero chief executive Rhys Holleran said, "We have had one of the most difficult periods in our history. Despite this, we have produced a result that has met market expectations through rigorous operational management"
• SCA underlying profit at $47.6 million.
• Revenue was down 10 percent to $327.7 million.
• Southern Cross Austereo declared a fully franked interim dividend of 4.5 cents per share.