Nine Entertainment Co. reported strong financial results, up 27 percent to the bottom line with a net profit after tax of $ 157 million.
The media giant, which includes a television network, multiple digital channels and bets on on-demand video streaming sites, also saw a sales increase of six percent to $ 1.3 billion and a jump of 25 percent in group revenue to $ 257 million.
Nine legal results also included specific items of $ 53 million after tax, mainly consisting of the gains made on the sale of the company's long-standing television studios in Willoughby.
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In an e-mail to the staff, Nine & # 39; s CEO Hugh Marks said that the company was in good shape.
"We know that the world around us is changing at a pace and that we continue to demand that we adapt." Sometimes we know that this is not easy. "But the results we achieve give Nine a real resilience for the future and the ability to continue to work to take those steps that we need for further growth," Marks wrote.
"Television does not die, it just changes, and we at Nine, by all of you, are leaders in how companies like ours can adapt to that change."
Nine said that it more than doubled its profit compared to its new digital company and achieved more than 90 percent growth in long form streams in its video-on-demand platform 9Nu.
At video streaming site Stan, of which Nine is 50% owned by Fairfax Media, active subscribers grew by 40 percent in the past 12 months to register a user base of more than 1.1 million people.
On television, the Nine Network reported sales growth of 7 percent for the year, which led to a 27 percent increase in group profits from free-to-air television.
For the 12 months up to and including June, Nine attracted a commercial network share of 38.2 percent of the demographic population 25-54 (+ 1.9 points) and retained the number one share in all major sales demographies.
For its primary channel, Nine's share in the 25-54s was 39.0 percent, equivalent to approximately 3.6 share points for its closest competitor.
At the end of last month Fairfax Media and Nine agreed conditions to merge, become in the process the nation's largest media company in a deal valued at more than $ 4 billion.
The combined company, simply called "Nine", includes Negen's free television network, a portfolio of fast-growing digital companies, including Domain, Stan and 9Now, as well as Fairfax mastheads and radio strategies through Macquarie Media.
The proposed merger is awaiting approval by Fairfax shareholders and the Australian Competition and Consumer Commission (ACCC), which has begun a 12-week revision of the deal.
Currently, Nine has four free-to-air television channels, 9Now video-on-demand platform, and fast-growing digital brands nine.com.au, 9News.com.au and the 9Honey network.
The company also launched Future Women, a new subscription site for professional women.
Nine also has a 30 percent interest in the online English learning platform Literacy Planet, a 17.8 percent share in the Yellowstone Road for financial advice and a 50 percent stake at Fairfax in the video streaming platform Stan.
The Nine Board pays a fully finalized final dividend of 5 cents, payable on October 17, 2018, for a full year total of 10 cents fully franked.
Nine Entertainment Company is the publisher of this website.