SEVEN WEST MEDIA (SWM) half year result

Bell Potter


SEVEN WEST MEDIA (SWM) half year result. Group operating costs (including depreciation and amortisation) decreased 1.3% to $716.1 million as a result of continued focus on cost reduction initiatives. Newspapers and Magazines cost reduction of 4% and 7.6%. TV cost growth of 0.5% over pcp. Net operating cash flow up 138% to $240.9m. SWM has guided to FY15 underlying profit to remain in line with market estimates. SWM expects a slight decline in TV ad markets in FY15, while the Newspaper ad market is expected to continue in line with current trends. Today's share price reaction: Up 0.7% at $1.43 (1.40 pm) Recommendation: Neutral rating likely to be maintained. Read more (VIEW LINK)

Bell Potter Securities is a leading Australian stockbroking, investment and financial advisory firm that provides a comprehensive offering of financial services to a diversified client base that includes individuals, institutions and corporations.

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