Sydney, Aug 23, 2007 (ABN Newswire) - The share market moved up a gear today rising for the fourth straight session in a row. BHP Billiton and Babcock & Brown led the market higher with upbeat earnings announcements.

The S&P/ASX 200 Index closed up 155 points to 6160, and on the futures market the SPI 200 surged 162 points.

Turning to company news now, Southern Cross Broadcasting has reported a solid increase in full year profit. Earnings rose 21 per cent to $60.43 million. Television revenue improved by just under 4 per cent to $64.8 million, while radio grew 26.3 per cent to $23.1 million. The broadcaster says it's optimistic the television and radio advertising revenue markets will grow in the current half. Shares in Southern Cross Broadcasting closed 0.29% lower at $17.30

The full report is available at the following video and audio links.

Video Link

http://abnnewswire.net/fnnlnk/693UG7YF


Audio Link

http://abnnewswire.net/lnk/N37C92HG

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