Ann: Half yearly Results Announcement, page-2

The Company will pay an interim dividend of 5 cents, fully franked. The dividend is payable on 20 April 2020.

Current trading environment and outlook

Overall advertising market conditions across most categories have remained softer-than-anticipated for the start of 2020.
Notwithstanding, Nine’s March quarter FTA revenues are expected to be broadly flat, year-on-year as Nine’s superior ratings performance in 2019 and the start of 2020, has underpinned clear growth in revenue share. For the June half, Nine expects the FTA market to decline by around 5%, offset by growth in share of around 2 points (on pcp).
After H1 cost growth of 6%, FY20 guidance of ‘cost growth of no more than 2.5%’ equates to a second half cost decline in FTA Television.
Continued strong growth is expected at 9Now, with EBITDA growth tempered by increased investment in content, as the business expands into the broader digital video market. The market is expected to continue to grow around current rates and for Nine to remain at the forefront of this growth.
Second half results at Radio are expected to show a marked turnaround, as the cost base is reset. Revenue performance has been impacted by the rate of advertiser return to 2GB, which is expected to improve moving into 2021.
In the second half, digital trends at Metro Media continue to improve, albeit somewhat masked by the loss of Weatherzone EBITDA, and the cycling of previous significant cost initiatives.