WINNIPEG — CanWest Global Communications’s Australian operations report its second-best quarterly results ever.
The TEN Group pty Limited (TEN), the company that owns CanWest’s Australian television and out-of-home advertising operations, reported consolidated revenues of A$295 million and consolidated EBITDA of A$127 million for the quarter ended Nov. 30, 2005. Still, the results were not as good as those of the same period a year ago, when there were “extraordinarily favourable market conditions,” the company announced. Because of a softening of the Australian TV market, revenues and EBITDA declined by 2.4% and 9.5% respectively compared with the same quarter last year.
TEN holds the number one position in Australia among its target 16- to 39-year-old demographic, and is one of the country’s highest-yielding stocks.
CanWest holds a 56.4% economic interest in TEN.
