News: Southern Cross to manage costs

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Southern Cross Media Group Limited (ASX:SXL) says it is heartened by increasingly positive consumer sentiment, but is unsure when it will translate to the broader retail economy.

 

Addressing shareholders at its annual general meeting, Southern Cross chief executive officer Rhys Holleran said while the group was forever hopeful about a flow-on spike from consumer confidence, it’s yet to see the positivity translate into business activity.

 

Mr Holleran said the company remains focused on careful management of costs.

 

He says regional radio remains ever-reliable and in good shape.

 

Southern Cross Media delivered a net profit of $96 million in fiscal 2013.