Seven returns to profit but sees revenues drop across all assets

Seven West Media has recorded a profit a year after making $1.8bn in write-downs, showing a net profit after tax of $207.3m for the last financial year.

The company, which owns the Seven Network, West Australian Newspapers, Pacific Magazines and half of the Yahoo7 joint-venture, saw its revenues fall by $60m in the past 12 months to $1.713bn, from $1.774bn last year.

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That net profit after tax result was also down on the previous year by 0.9%, although that result was erased by the massive write-downs from the company. This year there were restructuring costs of $32.9m recorded.