Seven West Media will not pay a dividend for an 11th straight reporting period citing “prevailing market conditions”, instead focusing on banking revenue and paying down debt amid an advertising market it expects to decline in the next six months.

The Kerry Stokes-controlled company, which owns the Seven Network and The West Australian, posted $814.6 million in revenue in the six months to December, a decline of 0.5 per cent compared with the previous year. Earnings before interest, tax, depreciation and amortisation fell 4.8 per cent to $205 million, while net profit fell 4.6 per cent to $114.9 million.