Southern Cross Media Reports Sharp Profit Decline

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

Southern Cross Media Group Limited reported a 1% decrease in revenue and a significant drop in net profit after tax, down 1,275% including significant items, for the fiscal year ending June 30, 2024. The company also announced that the dividend reinvestment plan is suspended and no final dividend will be paid for the year. Net tangible assets per security also saw a slight decrease, from $(0.75) to $(0.78).

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