While Ten awaits their knight in shining armour to arrive to take the helm, acticng CEO Lachlan Murdoch is less than impressed with the latest numbers that have just been released.
The company reported a first half profit of $49.6m but this was down 15.6%, a result that Murdoch called “Not Acceptable” and “Disappointing”.
In a statement that clearly let it be known that Murdoch was unimpressed, he said
The half year results are not acceptable and immediate action is already underway to address them. Disappointingly for Ten’s 1300 employees and 22,500 share- holders, these results do not demonstrate Ten’s underlying strengths and potential.
Free-to-air television is an excellent business with strong growth prospects. However, Ten has been under-delivering and this must change.
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