Investment Matters

Company news: Southern Cross Media, TZ Limited

Southern Cross Media released a trading update.  Regional TV markets continue to be challenged, and have declined in recent months.  Additionally, metro radio markets have declined 2.2% from Jan-17 to Apr-17 and are trading flat FYTD.  Consequently, EBITDA is guided to be slightly below FY-16's result of $168m.  Prior to this announcement, an EBITDA of around $177m was expected.

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TZ Limited received a new strategic order for its smart locks.  The $3m order is for locker management in the new headquarters of a major US technology company.