Seven West Media Limited (ASX: SWM) released a trading update today with details of expected EBIT for the FY19 year, will it keep investors entertained?
Seven West Media is one of Australia’s prominent media companies. It is well-known for its television channels which include Seven, 7TWO and 7MATE, among others. It also has a presence in magazines and news with The Sunday Times, Better Homes and Gardens and New Idea being only just a few of its written media offerings.
Seven West FY19 Trading Update
Today Seven West released an update outlining that it expects FY19 underlying Group EBIT to be lower than the prior year (click here to learn what EBIT means).
Underlying EBIT for the FY18 year was $235.6 million, with FY19’s underlying EBIT expected to be in the range of $210 million to $220 million, this is a potential drop of between $15.6 million to $25.6 million.
Seven West said that it has grown revenue share this financial year. However, the revised guidance reflects soft conditions within the advertising sector coupled with uncertainty surrounding the Federal Election.
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