2020RESULTS ANNOUNCEMENT

PRIME MEDIA GROUP(ASX:PRT) today released its results for the financial year ended 30 June 2020

STATUTORY RESULTS SUMMARY
-Total revenue $163.7M, down 14.7% on the prior year
-EBITDA $20.3M, down 47.3% on the prior year
-Operating costs down $2.1M excluding one
-off transaction costs of $1.5M and pre-AASB 16 Leases
-Statutory profit after tax of $6.6M, down10.0%on prior year

CORE NET PROFIT AFTER TAX
-$6.0Mdown 64.8% on prior year

CAPITAL MANAGEMENT
-Net operating cash flow up $6.4M or 28.6% on prior year
-Net cash of $17.1M

75 m debt to 17m cash in 4 years

Under the radar are recommending Prt as a buy focusing on its cash generation
in 4 years they turned a 75m debt into 17m cash, paid a 15 m affiliation agreement, about 14 m in interest and even had a year of dividends within this time frame. That's over 120m cash generated in 4 years, and get the business trades at an EV of 27m !!!

Is it a takeover target for Channel7?