Prime Media Group Limited Reports Sales Results for the Year to Date to 30 April 2018; Provides Earnings Guidance for the Year to 30 June 2018
May 01, 2018 at 07:54 pm EDT
Prime Media Group Limited reported sales results for the year to date to 30 April 2018. The Company's total advertising revenue for the financial year-to-date to 30 April 2018, inclusive of the Commonwealth Games broadcast, has declined 8.9% on the prior year. However, the prior financial year result included revenue derived from the broadcast of the Rio Olympic Games.
The company anticipates a soft trading environment in regional television advertising markets to continue to 30 June. As a result, the company expects its core net profit after tax for the year to 30 June 2018 to be between $24.3 million and $25.3 million.