Seven West Media has flagged a drop in full-year earnings of up to 10.9 per cent, with the free-to-air network blaming a softer advertising market.
Seven West on Tuesday said it expects underlying earnings before interest and tax for the 12 months to June 30 to be between $210 million and $220 million, compared to $235.6 million in the 2018 financial year.
“This revised guidance reflects the soft conditions and short market experienced across the advertising sector, and the economic uncertainty surrounding the federal election,” Seven West said in a statement.
The company in February had flagged flat to 5.0 per cent earnings growth and, at 1110 AEST, its shares were 2.0 per cent lower at 49.5 cents.
Seven said it has grown revenue share this financial year and has a 41.3 per cent share of the metropolitan free-to-air market.