Seven West Media records $135.2m half yearly profit, with print recording major declines

February 17, 2016 10:15

Seven West Media (ASX: SWM) has recorded a $135.2m half yearly profit, a result that is up on last year when the company made major writedowns.

The figure of a post-tax profit $135.2m, includes significant items, is down marginally on last year’s underlying net profit of $137.5m but comes as Seven’s print divisions took a hammering, with profits in both the newspaper and magazine divisions falling by double digits.

SWM’s West Australian newspaper division saw profit its down 22.3% to a EBIT of $24m and magazines were down a massive 39.1% to $7.3m while television remain the main profit centre and were up 2% to $185.4m.

Seven joint-venture Yahoo7 saw its EBIT rise 16.7% to $17.5m, amid ongoing speculation about the future of the business given its US owner’s current ongoing sales process.

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Nic Christensen

Nic Christensen worked for Mumbrella from 2013 to 2016, in roles including deputy editor and media & technology editor. He is former media writer for The Australian and has also worked as a reporter for The Daily Telegraph and senior producer for Radio 2GB.

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