Ten posts massive $243.3m loss

By on April 9, 2013

Ten Network

Ten Community reception area. Supply: The Day By Day Telegraph

EMBATTLED broadcaster Ten Community Holdings has posted an enormous $ 243.Three million first 1/2 loss, its outcomes dragged down through redundancy, termination and impairment prices.

The Network’s loss – which was a long way better than analysts had expected – was once hit with the aid of $ 304 million in one-off prices and when compared with a $ 14.Eight million Web profit a 12 months prior.

Its one-off costs included a non-cash television licence impairment charge of $ 292.1 million and one-off restructuring prices of $ Eleven.9 million.

Whole income fell 14 per cent to $ 307.6 million and no dividend was once paid.

The broadcaster’s underlying revenue for the half-12 months used to be $ 6.Eight million after non-habitual gadgets.

Chief govt Hamish McLennan stated the Community has obtained encouraging beef up from advertisers.

“alternatively, media promoting markets stay quick and it’s not clear when we can see a marked building in trading necessities,” Mr McLennan stated.

With AAP.

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