SCA Reports Mixed FY24 Results, Eyes Asset Sale
Company Announcements

SCA Reports Mixed FY24 Results, Eyes Asset Sale

Southern Cross Media Group Limited (AU:SXL) has released an update.

Southern Cross Media Group Limited (SCA) reported a slight revenue decrease to $499.4 million in FY24 compared to FY23, with underlying EBITDA falling by 14%. However, the company saw a resurgence in the second half of the year, driven by strong performance in digital audio revenues, which jumped by 42%, and a disciplined approach to costs. SCA is also pushing forward with the strategic sale of its non-core regional television assets while expecting to lower capital expenditure and resume dividend payments within the target payout range in FY25.

For further insights into AU:SXL stock, check out TipRanks’ Stock Analysis page.

Related Articles
TipRanks Australian Auto-Generated NewsdeskSouthern Cross Media Sees Strong Audio Revenue Growth
TipRanks Australian Auto-Generated NewsdeskSouthern Cross Media Highlights Governance and Diversity
TipRanks Australian Auto-Generated NewsdeskSouthern Cross Media Eyes Growth Amid Revenue Challenges
Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App