Nine Entertainment Co
(ASX:NEC) has reported a 6.1 per cent slump in net profit to $78.4 million in the half year to 31 December 2015.
Revenue also declined by 5 per cent and Group EBITDA fell 5 per cent also to $127.9 million.
Earnings per share was down 1 per cent on a lower share count due to the on-market buy-back.
The company says that in an increasingly competitive market, Nine Network’s metro FTA revenue share declined by 1 per cent to 38.2 per cent after seven years of consistent growth.
Nine Entertainment will pay an 8 cent fully franked interim dividend, up 90 per cent on the previous corresponding.
