Nine Entertainment Co. Holdings Limited (ASX: NEC) organised its Annual General Meeting in Sydney and made the following comments regarding its current trading and FY20 outlook:
- Nine’s Metro Free To Air business achieved a leading revenue share of 39.8%, though the market was down by 6.4% on last year.
- FTA costs are now expected to be 2.5% higher.
- The Group continues to invest in growth initiatives selectively.
- The BVOD market grew by 34% in the September quarter and, 9Now’s share remains just under 50%.
- NEC is likely to report a single-digit growth in FY20 Pro Forma Group EBITDA, pre the impact of AASB16.
As at 1:47 PM AEST, NEC quoted $1.740, down by 5.6%.
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