Tuesdata: Profits begin to fall as Seven West Media prepares for a chilly 2023
Tuesdata: Profits begin to fall as Seven West Media prepares for a chilly 2023
Welcome to a rapid turnaround edition of Tuesdata.
Today we examine the performance on Seven West Media, which this morning released its results for the first six months of the 2023 financial year. Disclosing a slight drop in profit, the company surprised analysts by refusing to disclose its metro revenue share.
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Below, we also wrap up the movement on yesterday’s Unmade Index.
Apart from smoke and mirrors over share, has Seven got any levers left to pull?
Until almost the end of the investor call, it looked like there would be no surprises in this morning’s Seven West Media’s half year update.
There was a sense that with the company fully exposed to a declining advertising market, worse is yet to come. The question is whether that’s a little or a lot worse. That’s the same as all the advertising-led media companies.
Seven West Media’s half year profit of $205m during the period of July to December last year was down nearly 5% on the equivalent period in 2021.
Below the paywall, I’ll be showing how that stacks up against the company’s results over the last decade.