Nine Entertainment Co. Holdings Limited (ASX:NEC) reports 6.4 per cent share drop

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by Ortenzia Borre

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$1.875 $0.036 1.94%
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Last Updated: 13/12/2019 3:27 PM

Nine Entertainment Co. Holdings Limited (ASX:NEC) has reported their free to air revenue share dropped 6.4 per cent in the first quarter of the new financial year.

At today’s AGM in Sydney, the media giant said "early signs of an improvement in the second quarter, given a broadly flat September, have unfortunately dissipated in recent weeks”.
 
The company also added that "the prevailing weakness in consumer sentiment across Australia for many consumer facing businesses and general softness in the overall advertising market” has impacted on results.

Shares in Nine Entertainment Co. Holdings (ASX:NEC) are trading 6.23 per cent lower at $1.73