Seven West Media Share Price Crashes on Back of Earnings Slump

Seven West Media (SWM) reported an earnings decline of 69 percent for the year to June, which sent its share price to a record low of 14 cents. For the ninth year running, shareholders will receive no dividend. Seven’s total TV revenue share increased by 1.7 percent over the year, to 40.2 percent. This helped offset its market decline, with share growth achieved in every quarter. While full-year costs were up 2 percent, costs in the second half of the 2024 financial year were percent lower than the prior corresponding half-year. After the market had time to absorb the shock, the value briefly saw gains, reaching 16.5 cents on Aug. 14, up 6.5 percent....