Rising costs and tough TV ad market eat into Nine’s profit

Original article by Lilly Vitorovich
The Australian – Page: 19 : 23-Aug-19

Nine Entertainment Company has posted a 2018-19 statutory net profit from continuing operations of $216.6m, which is three per cent higher than previously. Challenging conditions in the advertising market saw the Nine Network’s revenue fall by six per cent to $1.09bn; its costs rose four per cent to $876.6m, and Nine expects a similar increase in costs during 2019-20. The group’s publishing division posted full-year earnings of $82.7m, compared with $50.2m previously. Shareholders will receive a final dividend of $0.05 per share, and a full-year payout of $0.10.

CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, NINE NETWORK AUSTRALIA LIMITED, FAIRFAX MEDIA LIMITED, MACQUARIE MEDIA LIMITED – ASX MRN, STAN ENTERTAINMENT PTY LTD, DOMAIN HOLDINGS AUSTRALIA LIMITED – ASX DHA, SEVEN WEST MEDIA LIMITED – ASX SWM

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s