Nine Entertainment’s half-year profit drops 40 per cent to $114 million

Nine Entertainment’s half-year profit dropped 40 per cent to $114 million.

The company was hurt by weaker ad markets.

“Nine got punished by the market,” Sky News Business Reporter Edward Boyd said.

“Started in negative territory, kept falling throughout the day.

“Investors clearly unhappy with Nine’s results – it got crunched down 8.70 per cent.”