Half Year 2020 Nine Entertainment Co Holdings Ltd Earnings Call Transcript
Well, good morning, everyone. I am Hugh Marks, the CEO of Nine Entertainment, and I'd like to welcome you to the Company's First Half 2020 results briefing. Paul Koppelman, our Chief Financial Officer, is also here with me today. In terms of the agenda for this call, I'll touch on our operating results for the past 6 months before handing over to Paul to talk through the results in more detail. I'll then say a few words about our broader strategy and give you some color on how we're continuing to transform our earnings at pace towards our digital media future. Finally, of course, I'll update you on current trading and our outlook for financial year 2020.
Now, as we discussed in our AGM in November, the market has been against us in this half both in terms of advertising and property. In addition we also carried some one-off costs in television relating to the World Cup Cricket and UK Ashes. In total, group EBITDA declined by $21 million for the half. So, while we were faced with some cyclically weak markets
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