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Nine lifts H1 earnings by 79 per cent

Broadcaster and publisher Nine Entertainment has reported a 79 per cent gain in first-half earnings after advertising increased by more than company leaders expected.

Nine on Wednesday reported a net profit after tax of $181.8 million, helped by what chief executive Hugh Marks said was strict cost efficiency during the pandemic.

Group costs were cut by 13 per cent and helped offset a two per cent fall in revenue, compared with the previous first-half figures.

Nine operates TV channels, radio stations and publishes titles including The Sydney Morning Herald and The Age.

Shareholders will receive an interim dividend of five cents per share, fully franked. This was the same as the previous interim payout.

Shares were higher by 5.62 per cent to $2.82 at 1120 AEDT.

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