Seven West Media Limited
(ASX:SWM) is expecting net profits after tax to fall by 2-to-4 per cent this financial year.
CEO Don Voelte told investors he believed Seven has reached the bottom, flagging a drop in underlying net profit of a few million.
Mr Voelte says even if advertising doesn't alter its present trends, full year 2013 is likely to be the worst of it for the company on a net profit after tax basis.
He says the company has reduced costs by more than $100 million and has identified further opportunities to make savings.
Seven West Media reported a net loss of 109.3 million in the first half of the current financial year.
