NZME revise their revenue expectations due to this years lockdowns in NZ

NZME has advised shareholders that the continued lockdown in New Zealand is expected to affect the networks bottom line for the full year 2021.

In advice issued to shareholders today, NZME says that the market guidance issued in August this year had noted that “on the basis of the trends to date and on New Zealand containing any outbreaks quickly, we would expect profit growth over 2020 for the full year 2021. However, this may become challenging depending on the duration of lockdowns.”

 The continued lockdown has now had an impact on revenue during Q3 21, but NZME says they are still 7% above this time last year when New Zealand was recovering from the 2020 lockdowns.

The expected result for the full year EBITDA is now expected to be $63M to $67M compared to $67.3M last year.

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