You will be redirected back to your article in seconds

Seven Network’s profits up 361%

Oz web bounces back

SYDNEY — Recovering from a terrible fiscal 1998-99 by vigorously slashing costs, Kerry Stokes’ Seven Network Australia on Wednesday posted a 361% hike in post-tax profits to A$101.7 million ($62 million) on revenues of $308 million, up 15%, for the six months ended Dec. 31.

Some $29 million of the profit came from selling shares in telephony and feevee group Cable & Wireless Optus. Seven’s ad revenues rose 7%, against an industry average of 5%, while subsid businesses such as feevee sports channel C7, Asian satellite TV service Australia TV and mobile phone unit B, posted losses.

More Biz

  • Analysis: Sky Win Boosts Comcast as

    Analysis: Sky Win Boosts Comcast as Global Streaming Wars Heat Up

    SYDNEY — Recovering from a terrible fiscal 1998-99 by vigorously slashing costs, Kerry Stokes’ Seven Network Australia on Wednesday posted a 361% hike in post-tax profits to A$101.7 million ($62 million) on revenues of $308 million, up 15%, for the six months ended Dec. 31. Some $29 million of the profit came from selling shares […]

  • Chrissy Teigen Target collection shop online

    Chrissy Teigen's New Target Collaboration to Launch in Late September

    SYDNEY — Recovering from a terrible fiscal 1998-99 by vigorously slashing costs, Kerry Stokes’ Seven Network Australia on Wednesday posted a 361% hike in post-tax profits to A$101.7 million ($62 million) on revenues of $308 million, up 15%, for the six months ended Dec. 31. Some $29 million of the profit came from selling shares […]

  • Dana Spector Joins CAA

    Dana Spector Joins CAA

    SYDNEY — Recovering from a terrible fiscal 1998-99 by vigorously slashing costs, Kerry Stokes’ Seven Network Australia on Wednesday posted a 361% hike in post-tax profits to A$101.7 million ($62 million) on revenues of $308 million, up 15%, for the six months ended Dec. 31. Some $29 million of the profit came from selling shares […]

  • ALLENTOWN, PA - SEPTEMBER 08: Elton

    Elton John and Universal Music Announce New Multi-Level Agreement

    SYDNEY — Recovering from a terrible fiscal 1998-99 by vigorously slashing costs, Kerry Stokes’ Seven Network Australia on Wednesday posted a 361% hike in post-tax profits to A$101.7 million ($62 million) on revenues of $308 million, up 15%, for the six months ended Dec. 31. Some $29 million of the profit came from selling shares […]

  • Sarah Jessica Parker Gap

    Sarah Jessica Parker Unveils Second Collaboration With Gap

    SYDNEY — Recovering from a terrible fiscal 1998-99 by vigorously slashing costs, Kerry Stokes’ Seven Network Australia on Wednesday posted a 361% hike in post-tax profits to A$101.7 million ($62 million) on revenues of $308 million, up 15%, for the six months ended Dec. 31. Some $29 million of the profit came from selling shares […]

More From Our Brands

Access exclusive content