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.