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.
Written by: admin Other posts from: admin
Posted in ASX Top 200 XJO, ASX Top 500 All Ordinaries, Australia Shares, Best Shares, Consumer Discretionary Stocks, Financial News, Market Sectors News, S&P ASX News, Stocks Investing Advice