Southern Cross Media Group shares have jumped more than 10 per cent after the broadcsaster reported a net profit of $45 million, a 52 per cent drop from the previous corresponding period after what it described as "one of the most difficult 12 months" in its history.

The regional television and radio owner, also known as Southern Cross Austereo, recorded revenue of $327.7 million, a fall of 10 per cent from the same period the year before. It declared an interim dividend of 4.5 cents per share.

Shares finished up 9.8 per cent to $1.35.

"We have had one of the most difficult 12 months in our history," chief executive Rhys Holleran said. Southern Cross Austereo owns the radio station responsible for a royal telephone prank to a British hospital that went wrong and which culminated in the death of a nurse.

"Despite this, we have produced a result that has met market expectations through rigorous operational management."

The profit fall was partly due to a $40 million tax benefit in the previous corresponding period from the company's acquisition of the Austereo radio business which owns stations including Sydney's 2DAYFM and the Triple M network.

Southern Cross also operates regional television and ONE HD.

But, he said, the company had beaten its previous forecasts with an underlying profit, which excludes one-off financial items, of $47.6 million.

"We are well-positioned to take advantage of any upturn in advertising markets," Mr Holleran said.

"Sentiment is on the improve in advertising circles and our talented and dedicated staff are fine-tuned and ready to respond." Advertisers pulled content from 2DAYFM during the first half of the financial year, due to the prank call to a London hospital where the Duchess of Cambridge was receiving treatment.

With AAP