Prime Media FY profit up, conditions remain tough

Company News

Prime Media Group Limited (ASX:PRT) has reported a higher net profit figure in the 2014 financial year but says advertising conditions remain tough.
 
The regional broadcaster says an impairment charge on its radio licences in the previous financial year saw profit jump 68 per cent in fiscal 2014.
 
The company says revenue grew only one per cent to $260.3 million in the year citing difficult trading conditions at the local sales level. 
 
CEO Ian Audsley says the first half of the current financial year has been mixed blaming a lack of election advertising that was present last year.
 
A final dividend of $0.028 per share, fully franked, has been declared. 

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