Radio station operator Macquarie Media has reported a "disappointing" fall in half year revenue.
The radio network, formed last April with the merger of Macquarie Radio and Fairfax Radio, on Tuesday reported a nine per cent fall in revenue to $66.83 million when compared to the combined revenue for the two companies in the prior period.
Macquarie Media executive chairman Russell Tate said he was disappointed revenue gains had been slower than expected, but they were in line with budget expectations.
Mr Tate said he was confident the merged company would achieve its guidance for full year earnings before interest, taxation, depreciation and amortisation in the range of $20 million to $25 million.
"Our sales force has undergone massive change in both personnel and approach to the market and we are now starting to see the benefit of those changes in year-on-year revenue increases," he said.
News that makes sense
Your trusted source for staying up-to-date with the world around you. Get free daily news updates and analysis, straight to your inbox.
"We continue to fine tune our operating structures and personnel and we will realise further significant savings in operating costs."
The company's net profit for the period was $6.6 million, up 175 per cent over the combined figure for the prior period.
Its results cover the six months to December 31, 2015, its first full six months of operations since the merger.
Macquarie Media operates a string of news talk radio stations across the nation, including 2GB, 2UE, 3AW, 4BC and 6PR.
