February 19, 2018 / 10:08 PM / 8 months ago

BRIEF-Seven West Media Posts HY Net Profit Attributable Of $100.7 Mln

Feb 20 (Reuters) - Seven West Media Ltd:

* ‍HY REVENUE AND OTHER INCOME $810.1 MILLION, DOWN 10.6%​

* HY NET PROFIT FOR THE PERIOD ATTRIBUTABLE TO MEMBERS $100.7 MILLION VERSUS $12.4 MILLION

* NO INTERIM DIVIDEND DECLARED

* INCREASED COST OUT TARGET FROM $105 MILLION TO $125 MILLION ACROSS FY18 & FY19

* ‍REAFFIRMED FY18 GUIDANCE FOR UNDERLYING EBIT TO BE BETWEEN $220 MILLION AND $240 MILLION​

* “IN FY18, WE WILL DELIVER $40 MILLION OF COST SAVINGS”

* “IN FY19, WE ARE TARGETING AN INCREMENTAL $70 MILLION IN NET REDUCTIONS TO GROUP OPERATING EXPENSES” Source text for Eikon: Further company coverage:

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