Southern Cross Broadcasting (SCB) has reported a fall in year to date profit but says it expects positive earnings growth this year despite an unpredictable advertising market.

The owner of radio stations 2UE and 3AW, and Channel Nine Adelaide, yesterday posted a net profit of $50.1 million for 2005-2006, down 22 per cent.

Normalised net profit, before one-off items such as staff redundancies and the closure of a non-performing television production joint-venture in Singapore, was $57.4 million, down six per cent.

About 64 staff, including 36 in television, 25 in radio and three in corporate, were made redundant during the year. FULL STORY