February 19, 2018 / 10:19 PM / 6 months ago

Seven West Media 1st-half profit jumps on cost cuts

Feb 20 (Reuters) - Australian broadcaster and newspaper company Seven West Media Ltd said on Tuesday its half-year net profit jumped as it successfully cut group costs during the period.

The media company said net profit for the six months ended Dec. 30 totalled A$100.7 million ($79.68 million), higher than A$12.4 million in the prior corresponding period.

The owner of daily newspaper The West Australian, which has struggled in its advertising battle against online rivals like Alphabet Inc’s Google and Facebook, declared no interim dividend, compared to A$0.02 a share last year. ($1 = 1.2637 Australian dollars) (Reporting by Aaron Saldanha in Bengaluru; Editing by Jonathan Barrett and G Crosse)

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