Nine Entertainment Co has released its financial results for the 12 months to June 2022, and it has plenty to brag about.
Nine has seen a 15 per cent increase in revenue and total television growth of 19 per cent. Nine also a 22 per cent increase in revenue growth for streamer Stan, and Stan Sport is showing strong signs of growth. Basically, advertisers have plenty to buy into, and Nine is happy as a clam.
CEO, Mike Sneesby told B&T, “What we have done is been really clear on strategy and that has led us to these results.”
For the period, Nine reported Revenue of $2.7b and a Net Profit After Tax of $315m, which included
a post-tax Specific Item expense of $58m.
9Now also continues its growth trajectory, with more than 30 per cent revenue growth expected in September.
Group EBITDA, before Specific items, of $701m equated to a growth of 24 per cent, ahead of the first half growth of 15% per cent.
To celebrate the results, CEO Mike Sneesby sent an email to staff and said: “Results like these can only be achieved by an organisation that’s passionate about the quality, power and purpose of what it delivers.
“At Nine, we have this in spades. It’s key to the ongoing strength of our business and financial performance, and has also meant the board and executive team were able to say ‘thank you’ this year in the form of a recognition bonus.”
So, it’s a fabulous day to be a Nine employee.
