Nine Entertainment Co has posted a net profit after tax and before specific items of $262 million, the second-highest result since the group's relisting in 2013.
For the 12 months to June 2023, Nine reported revenue of $2.7 billion and a net profit after tax of $195 million, which included a post-tax specific item expense of $85 million.
The company notified shareholders that it intended to pay a final divided of 5 cents per share, fully franked.
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CEO Mike Sneesby said it was investment in content that continued to drive financial success for the business.
"Every month, across Nine's television, publishing and audio assets as well as Stan and Domain, we reach almost 20m people," he said.
"It is this broad reach which gives Nine its unique position - our ability to distribute content to the broadest possible audience; to monetise that content in multiple ways and to use our extensive first party data to ensure optimisation of audience and revenue."
Subscription and licensing revenues at video-on-demand platform Stan and Nine's publishing platforms grew by 9 per cent, while digital revenue from the business' talk radio assets grew by 115 per cent.
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There was a 15 per cent decline in the earnings before interest, taxes, depreciation and amortization (EBITDA) of property platform Domain, reflecting a "weaker property market".
Nine Chair Peter Costello said the media industry in Australia was facing "tough economic conditions".
"Through FY23, Nine continued to solidify its position at the forefront of media in Australia," he said.
"Whilst we faced tougher economic conditions which have impacted the broader industry, Nine has risen to the challenge, continuing to drive audience and revenue share, and investing in the future of the business while focussing on the efficiency of our cost base."
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