Seven reports 240% bump in profit to $125.5m, 7Plus revenue up 78%

Seven West Media has released its full-year results for 2021, headlined by an underlying net profit after tax (NPAT) of $125.5 million, a 240% increase on the previous year.

Group revenue was reported at $1.27 billion, up 3.5% on the prior corresponding period, while Seven reduced its net debt by 40% to $240 million.

Underlying group EBITDA was $253.9 million, up 105%, while EBIT was $227.1 million, a 141% increase. Seven also revealed $200 million in cost and cash savings, resulting in a 7.5% reduction in operating costs. Dividends remain suspended.