Nine Entertainment Co. Holdings Limited
(ASX:NEC) has lowered its earnings guidance for the full 2015 financial year.
The owner of the Nine Network expects to generate earnings of between $285 million to $290 million, down from earlier guidance of $311 million.
Nine attributes the downgrade to a softer than anticipated free-to-air market in the second half which is now expected to be in low single digit decline.
Shares in Nine Entertainment closed at $1.99 before the announcement was released on Friday evening.
Nine Entertainment reported a net profit of $90.98 million in the first half of the 2015 financial year.
