Weak Television Revenue Growth Expected for Nine Entertainment as Consumer Confidence Remains Soft

Nine Entertainment Company delivered an increase in group earnings before interest, tax, depreciation and amortisation, or EBITDA of 4.7%, to AUD 311 million, 2% above pro forma prospectus forecasts. Revenue increased 5.8% to AUD 1.578 billion, an outperformance of 0.8% on pro forma forecasts. The result is largely in line with our expectations, while the outlook for fiscal 2015 revenue from the core television group is a little softer than we had forecast.