Finance Finance News Seven warns of profit fall

Seven warns of profit fall

Channel Seven profit fall
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Seven West Media is warning of a 10 per cent a slide in its first half profit due to softer-than-expected television advertising.

Chief executive Tim Worner expects net profit for the six months to December 27 to be down by as much as 10 per cent compared to a year ago.

“This is due to a confluence of factors but primarily the unexpected softness in the television advertising market in the first half and our response to it,” he told shareholders at the company’s annual general meeting on Wednesday.

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