Business
Seven swings to profit, finds new cost savings – Sydney Morning Herald
Seven West Media has reported earnings growth despite a fall in revenue for the half year.
Kerry Stokes Seven West Media has swung to a net profit of $116.4 million for the fiscal half year as the television and publishing company flagged a further $30 million in cash savings.
The media companys revenue fell 9.9 per cent to $644.2 million for the six months to December 26 due to weak advertising market conditions related to the coronavirus pandemic and a reduction in production revenue. Seven West Media chief executive James Warburton also revealed the company had reduced net debt by…
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