Seven West Media has blamed a soft advertising market and uncertainty surrounding the federal election for a lower than expected profit.
On Tuesday Seven warned it now expected earnings before interest and tax in 2018-19 to fall to between $210 million and $220 million, from last year's result of $235.6 million. That suggests a fall of 7 per cent to 11 per cent. The Perth-based company had previously forecast EBIT growth to come in between zero per cent and 5 per cent.
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Max Mason covers financial crime, courts and corporate wrongdoing. A Walkley Award winner, Max’s journalism has also received awards from the National Press Club of Australia, the Kennedy Awards and Citibank. Message Max on Signal https://tinyurl.com/MaxMason Connect with Max on Twitter. Email Max at max.mason@afr.com
