Regional broadcaster Prime Media says tough regional economic conditions continue to impact its advertising revenue.
The company broadcasts Seven Network programming in regional areas in the eastern states and Western Australia.
Prime Media made a net profit of $20.9 million in the six months to December 31, up significantly from $4.6 million in the same period a year earlier, when Prime took $14 million off the value of its radio business.
The Prime radio group has since been sold, and the company's profit from continuing operations of $18.3 million was down two per cent from $18.7 million.
"Regional economic issues, particularly in Canberra (including Southern NSW) and the Western Australian markets, have resulted in subdued trading conditions that leaves us with a more modest total advertising revenue growth number," chief executive Ian Audsley said.
