Nine posts $144.2m net profit, in first results since float

August 28, 2014 9:42

Nine Entertainment Co has posted a $144.2m profit up 5.5 per cent on last financial year in its first full year financial report since floating in December.

The media company, which has grown its share of TV revenue in the last year, recorded revenue of $1.578bn up 5.8 per cent while the Group EBITDA was $311m up 4 per cent.

“I am pleased with our performance in FY14,” said David Gyngell, CEO of Nine Entertainment. “We have exceed our prospectus forecasts across the board, and we are making good operations progress across each of our television, live and digital business.”

“Following the completion of the IPO and subsequent debt refinancing, we have a very strong balance sheet with significant flexibility.”

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Nic Christensen

Nic Christensen worked for Mumbrella from 2013 to 2016, in roles including deputy editor and media & technology editor. He is former media writer for The Australian and has also worked as a reporter for The Daily Telegraph and senior producer for Radio 2GB.

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