Southern Cross Media Group Ltd

SXL: XASX (AUS)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	A$2.70	Vsdj	Gkfvwgzzq

Southern Cross Earnings: Proudly Digital, Fiercely Cost-Cutting

Brian Han

Feb 29, 2024

The 30% slump in Southern Cross' fiscal 2024 first-half underlying EBITDA to AUD 31 million was disappointing. While wider advertising market malaise was a key culprit, persistent cost growth was jarring, with non-revenue-related expenses up another 5% to AUD 160 million. It could have been worse if not for the AUD 5 million cost reduction realized in the period to offset wage growth.

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