Ten Network Holdings Asx | Australian Stock Report Share Tips

Australian Shares News: TEN Network Holdings

27th Oct 2011

Ten Network Holdings Limited (ASX:TEN). TEN ‘s FY11 profit slid 90.5% to $14.2 million, driven by an $85.4 million impairment charge that related to staff redundancy costs.

Underlying earnings slumped 24% to $74.1 million, with revenue rising a paltry 1% to $1 billion. A final dividend of 5.25 cents was declared.

However the group said it will keep costs flat in FY12 and that a planned programming overhaul will help it better compete with its rivals.

The encouraging outlook has lit a rocket under TEN shares, making them among the best performing in the Australian stock market.

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Australian Shares News Ten Network Holdings (TEN)

11th Apr 2011

Ten Network Holdings (TEN) is a major media company with businesses in television and out-of-home advertising.

Network Ten possesses a highly distinctive programming line-up which makes it the network of choice for viewers under 50, and is broadcast in standard definition digital and analogue.

TEN was one of the shares to sell in February amid a worrying profit outlook.

However, the stock has bounced back impressively from mid-March, making it one of the better performers in the Australian share market in recent weeks.

On 7 April, TEN reported a 15.6% drop in 1H11 net profit to $49.5 million.

Group EBITDA fell 9.8% on-year to $106 million despite a 2.2% growth in revenue to $484.2 million.

Television revenue was 2.2% higher than the prior year, with the result weighed down by a poorly rating 2010 Delhi Commonwealth Games and a late launch of TEN’s third digital channel.

Acting CEO Lachlan Murdoch said the result was unacceptable and that the group would focus on controlling costs in order to turn around the company’s fortunes.

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