Nine Entertainment Co. Holdings Ltd
NEC: XASX (AUS)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
A$5.90 | Tfw | Gykkyrvxg |
Another Positive Trading Update From Nine Entertainment
Business Strategy and Outlook
Amid the COVID-19-induced uncertainty, we are encouraged by Nine's progress on factors within its control. The balance sheet is well-equipped to weather the current turmoil. Critically, management is not letting a good crisis go to waste. It has already committed to cutting significant near-term costs in response to COVID-19 (operating and capital expenditures). In addition, it has stepped up efforts on the previously flagged three-year AUD 150 million structural cost-out initiative and is now targeting AUD 230 million by the end of fiscal 2024.