Ten reduces losses but still $170m in the red
Ten has posted a loss of almost $170m in the 12 months to August 31, as TV revenue dipped more than four per cent and costs climbed four per cent.
But the result was a 41 per cent improvement on last year when losses sunk to $285m, the company said today.
Shares in Ten climbed 2.63 per cent to 19.5 cents on the back of the result.
Television revenue fell 4.2 per cent to $601.7m with the company reporting TV earnings before interest, tax, depreciation and amortisation (EBITDA) of $79.3m.
Might need to look up the definition of pop culture phenomenon
How funny – “reduced the loss to only $170m “.
Any other company that continues to see serial bad management , write downs and poor performance would overhaul management and the Board”.
I think the Board even gave the CEO 20 million shares for good performance – What the !!