Nine profit and revenue down after ‘weaker-than-expected’ start to financial year

Nine Entertainment’s revenue has declined by 4.5% and net profit after tax is down 4.3%, with the company attributing the falls to Seven’s coverage of the Olympics and a weak December half in the metro free-to-air TV market.

For the six months to December 2016, revenue for the group was $659.2m, down from $690.3m over the corresponding period in 2016 – a decline of $31.1 million, or 4.5%.