Ten Network Holdings Ltd announced today that the company has returned to profitability in the first half of fiscal 2010. The television network company said that the business conditions improved in the second quarter of the fiscal.

In the first half of the fiscal ended February 2010, Ten Network Holdings reported underlying group net profit after tax of $A58.7 million, slightly increasing by 3.3% while in the same period last year it was reported of $A56.8 million.

Total revenue for the first half was reported of $A474 million, increasing by 1.4% while comparing to the same period last year.

EBITDA for the first half declined slightly by 1.2%. Ten reported EBITDA of $A117.5 million for the first half of the fiscal. On the other hand, the company reported EBITDA for its TV business of $A110.2 million in the first six months of the fiscal.

For the six months ended December 2009, Ten Network Holdings Ltd. grasped 30.1% of market share of television advertising revenue. Ten Network was reported the only company to have grown revenue on the previous half.

"These first half results reflect the continual improvement in external operating conditions, notably a considerably stronger second quarter when television revenue grew by more than 12%," said Nick Falloon, executive chairman of Ten Network.