Seven slumps on downgrade

Original article by Lilly Vitorovich
The Australian – Page: 17 & 23 : 19-Feb-20

Seven West Media has posted a 2018-19 interim net loss of $66.3m, with underlying EBIT down 21 per cent at $119.7 and revenue falling 3.2 per cent to $771.7m. The media group advised that its full-year earnings will be 13 per cent lower than previously forecast amid challenging condition in the advertising market, while CEO James Warburton has flagged the potential for "transformative" mergers and acquisitions. Seven will seek to reduce costs by 20 per cent in the second half, and it will consider asset sales.


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