Ten Network reports HY net loss of $232.2m

Company News

by Jessica Amir

Ten Network Holdings (ASX:TEN) has reported a 2.1% increase in revenue growth, which was higher than it expected for the first half of the 2017 financial year.

However, the media company says its growth in revenue was not enough to offset the weak conditions in the TV advertising market, as well as the company’s increased content and other costs.

As a result, it experienced a loss of $2.4 million in television earnings before interest, tax, depreciation and amortisation (EBITDA) for the period.

Ten also reported a net loss attributable to members of $232.2 million for the period.

Shares in Ten Network Holdings (ASX:TEN) are 15.73% lower at 37.50 cents. 
 

Jessica Amir

Finance News Network
Jessica joined FNN in January 2017 after having worked in financial advising for seven years and in TV journalism for seven years, specialising in finance, equities and analysis. She has interviewed former Prime Ministers of Australia, Tony Abbott, Julia Gillard and Kevin Rudd and ex Treasurer Jo Hockey. Jessica has worked as a journalist with Sky News Business, ABC 1, ABC's The Business, ABC24 and has also been a regional Channel 7 and 9 TV reporter with Prime7 and Win News.