HT&E Limited (ASX: HT1) reported its trading update at the UBS Conference, acknowledging sluggish advertising market due to slowdown in the broader macroeconomic fundamentals.
- Radio share of advertising market is consistent and stable at 8.7% in CYTD 19.
- On a YTD basis, Radio market is down 5%.
- Top 15 categories of 2018 are down $31 million.
- ARN revenues declined in October on YoY basis but improved in September 2019 quarter.
- Late trading would be major driver of 2019 outcome.
- November and December lagging behind last year with limited visibility.
By 1:32 PM AEST, HT1 was trading at $1.665, no change from its previous close.
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