BUZZ-Australia's Seven West Media rises despite first-half earnings miss

Reuters
02-11
BUZZ-Australia's Seven West Media rises despite first-half earnings miss

** Shares of Seven West Media SWM.AX rise 4.6% to A$0.1725, their highest level since January 29

** SWM rose as much as 9.1% to A$0.180 earlier in the day, its highest level since October 8

** SWM clocks 1H25 statutory NPAT of A$17.7 million ($11.10 million), down around 68% from last year, and below Visible Alpha consensus of A$38.3 million

** Says total TV audience grew 1.5% over 1H25 with strong growth in its Broadcast Video on Demand (BVOD) segment

** TV revenue declined by 7% to A$641 million; Jefferies pegs that to rival Nine Entertainment NEC.AX broadcasting the Paris Olympics early in the reporting period

** SWM says seeing "improving advertising market"; expects Q3 bookings tracking low single digits above last year

** NEC trading 10.5% higher at A$1.420 — the biggest gainer in the ASX200 benchmark index .AXJO

** SGH Ltd SGH.AX, which owns around a 40% stake in SWM, is trading at record highs after consensus-beating results

** More than 1.5 million SWM shares change hands, vs the 30-day average of 1.0 million shares

** SWM stock up 13.3% this year, including the day's moves

($1 = 1.5952 Australian dollars)

(Reporting by Sameer Manekar in Bengaluru)

((Sameer.Manekar@thomsonreuters.com))

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