Seven West Media Limited
(ASX:SWM) has managed to turn its business around from last year’s loss of $69.8 million on write-downs in its magazine assets to a full year net profit of $149.2 million.
Net profit came in above expectations jumping 5 per cent to $236.2 million.
Revenue dropped 1.2 per cent however strong performance in the television side of the business lifted earnings there by close to 26 per cent.
Seven now claims over 40 per cent of the metro free to air advertising market.
Seven is also moving ahead with talks to secure a subscription video on demand service.
Seven West Media declared a final dividend of 6 cents per share bringing the full year pay out to 12 cents.
