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Sports Entertainment Group (ASX: SEG) has upgraded its full-year earnings guidance by up to 50 per cent led by strong growth from the company's media and events arms.
The Melbourne-based by the sports media, entertainment and talent management group is forecasting underlying EBITDA of $15.5 million to $16.5 million for FY26, representing growth of 50 to 60 per cent on the prior corresponding period.
The upgraded outlook is based on nine months of trading to 31 March 2026 and forecast performance for the final quarter.
Today's announcement supersedes earlier guidance issued in February, which pointed to underlying EBITDA growth of at least 40 per cent on the FY25 result of $10.5 million.
Sports Entertainment Group attributes the stronger trajectory to sustained revenue gains across its three core divisions - Media, TV production arm Rainmaker and events business Ballpark - alongside margin expansion driven by operating scale.
"While top-line revenue and margins have expanded, the group continues to actively manage its cost base while investing selectively to support future growth opportunities," says Sports Entertainment Group.
"While the group remains mindful of broader macroeconomic uncertainty, current trading performance provides increased confidence in SEG’s ability to deliver a stronger FY26 financial outcome.
"This guidance assumes no material deterioration in market or operating conditions for the remainder of the financial year."
Sports Entertainment Group operates and owns the Sports Entertainment Network (SEN), a sports media platform that includes radio stations and digital and television production.
The group also owns the Melbourne Mavericks Super Netball team and the Bendigo Spirit Women’s National Basketball League team as well as New Zealand’s Otago Nuggets and Southern Hoiho.
The profit upgrade builds on a strong first half in which the Craig Hutchison-led group posted underlying EBITDA of $9.7 million, up 94 per cent on the prior corresponding period, on revenue of $73.7 million.
That half-year result marked a 28 per cent lift in revenue and delivered a pre-tax profit of $5.9 million.
At the implied midpoint of the new guidance range, full-year underlying EBITDA of $16 million would represent a roughly 52 per cent increase on the $10.5 million reported for FY25 from continuing operations.
The company enters the final quarter of FY26 in a materially different financial position following the completion of its $39.5 million staged sale of the Perth Wildcats NBL franchise to technology entrepreneur Mark Arena in January 2026.
That transaction, first announced in mid-2025, removed the sports team ownership component of the business and allowed the group to return capital to shareholders.
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