Prime Media Group advertising revenue rises 16% in 1Q17

Company News

by David Chau

Prime Media Group (ASX:PRT) has reported that its advertising revenue for the regions of northern and southern NSW, and Victoria, has improved by 16% in the first quarter of FY17.

The company says its national agency revenue share in the first quarter of FY17 peaked at 49.5%, after it broadcast the Rio Olympic Games.

Prime also says national advertisers tend to bring forward their advertising campaign budgets during an Olympic calendar year – so it is, therefore, expecting a softer second half result.

The company is expecting its core net profit after tax, in the half year ended 31 December 2016, to be between $15.3 and $16.3 million.

Prime Media Group reported a net loss of $93.6 million at 30 June 2016.

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