SEN drive growth for Pacific Star

The Pacific Star Network, who operate SEN and MyMP in Melbourne, has released their full year financial results to the market today, with the company seeing strong earnings growth.

Revenue is up 1.1% to $15.2m, however EBITDA improved 18.6% to $1.87m. For those who might hold shares in PNW, the final dividend is 0.9c per share, with no franking.

The figures were at the higher end of the earnings guidance, and will be likely to be received warmly by the market, although Pacific Star is generally very thinly traded.

Chairman Andrew Moffat was bullish about the results, particularly considering the current market, saying; 

"The full year result shows the business recording marginal growth in revenue together with a significantly increased EBITDA. This is a credible result in the context of the tough and prevailing business conditions over the past twelve months.

The radio division continued to perform strongly, delivering a profit result of $2.03 million, representing a 31.1% increase on the previous year and 1116SEN, held its position in the market with an impressive result from our loyal direct sales team."

Pacific Star have chosen over the past year, rather than increasing dividends, to buy back their own shares on market. This has the effect of improving the earnings per share for the business, and is generally regarded as an effective way to increase value for shareholders. Over the past 12 months the company bought back, and cancelled, $132,000 in shares.

The balance sheet of Pacific Star remains healthy with the company holding over $4m in cash or cash equivalents. 

pic: Andy Maher and Andrew Gaze, the SEN Melbourne 'Morning Glory' Breakfast Show.