HT&E says radio revenue continues to improve after a soft advertising market in July, with expectations for a 6% to 8% lift in the September quarter.
In a trading update to the ASX’s Small and Mid-Cap Conference, the owner of ARN says growth continues to come from both metro and regional markets, weighted more to metro.
“Briefing activity remains solid into Q4,” the company said in its presentation.
HT&E last month posted a 58% lift in revenue to $172 million for the half year to June.
Net profit more than doubled to $26.6 million.
The strong jump was mainly due to the acquisition of regional radio player Grant Broadcasters and its 46 stations.
HT&E also reported a strengthening in radio and digital audio revenues for ARN Metro, up 5% to $97.2 million for the six months.
Regional radio revenue was up 11% to $54.2 million.
A slide from the ASX presentation:
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