Seven West Media swings into profit

Company News

by Rachael Jones

Media company Seven West Media (ASX:SWM) has reported a net profit of $135.8 million for the year ended June 30, 2018, compared with a loss of $744.3 million a year ago.

Revenue from ordinary activities is down 3.2 per cent to $1.62 billion on last year’s $1.67 million.

Underlying EBITDA dropped 11.7 per cent to $270.9 million from $306,7 million on the same corresponding period to June 2018.

The company recently signed five year extension of their affiliation agreement with Prime Media Group and hope to see a step up in revenue share for next year.

The company will not be paying a final dividend for this year.

Seven West Media (ASX:SWM) closed 0.95 per cent higher to $1.06.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.