TV profit hit

SHARES in Seven West Media fell heavily yesterday after the free-to-air TV broadcaster reported a 13.8 per cent drop in net profit. The group reported a net profit of $86.2 million for the six months to December, down from $100 million a year ago. Total revenue fell 1.5 per cent, with advertising down 3.2 per cent to $595.2 million. Printing and digital advertising revenue slumped 11.6 per cent.