For personal use only 2020 For personal use only Pacific Star Network Limited ANNUAL REPORT 2020 Corporate Directory PACIFIC STAR NETWORK LIMITED ABN 20 009 221 630 Directors Craig Coleman (Chairman) Colm O’Brien Andrew Moffat Craig Hutchison Chris Giannopoulos Ronald Hall (alternate) Company Secretary Jodie Simm Registered Office Level 5, 111 Coventry Street SOUTHBANK VIC 3006 Telephone: (03) 8825 6600 Email:
[email protected] Internet: www.pacificstarnetwork.com.au Share Registry Computershare Investor Services Pty Ltd Yarra Falls, 452 Johnson Street ABBOTSFORD VIC 3067 Telephone: 1300 137 328 Facsimile: 1300 134 341 Stock Exchange Listing Pacific Star Network Limited ordinary shares are quoted on the Australian Securities Exchange (ASX code: PNW) Annual General Meeting Annual General Meeting will be held on Tuesday 24 November at 3.00pm. For personal use only Pacific Star Network Limited ANNUAL REPORT 2020 Chairman’s Report 2020 Dear Shareholder, Overview On behalf of the Board of Directors, I am pleased to present the Pacific Star Network Limited (PNW) 2020 Annual Report. FY20 has been a challenging but overall rewarding year for PNW. The first nine months saw PNW achieve 15% growth in consolidated revenue on the prior corresponding period (pcp) compared to an 11% decline of the commercial radio ad market in the same period. The COVID-19 pandemic and impact of lockdowns on the economy caused a 52% decline in June 2020 quarter revenues compared with the pcp. Pleasingly the decline has improved significantly in 1Q21 and is in line with expectations. The complementary services divisions continue to be more acutely impacted by the various measures implemented by Federal, State and Territory governments around Australia which prohibit large gathering of crowds and strict social distancing measures.