Seven Network says H1 profit up 72 pct on ad gains

Wed Feb 21, 2007 5:07pm EST

SYDNEY Feb 22 (Reuters) - Seven Network Ltd. SEV.AX, Australia's second-ranked TV broadcaster, said on Thursday first-half net profit rose 72 percent after increasing its television advertising revenues.

Seven, which has tipped its television and magazine businesses into a private equity joint venture, said net profit before one-off items for the six months to Dec. 31 was A$112.8 million ($89.5 million) compared to A$65.5 million a year ago.

Seven and Kohlberg Kravis Roberts [KKR.UL] agreed last year to set up a A$4 billion media joint venture. Seven, controlled by media mogul Kerry Stokes, received A$3.2 billion from the deal.

($1=A$1.26)

((Reporting by Michael Smith; michael.j.smith@reuters.com; Reuters Messaging: michael.j.smith@reuters.net; +61-2 9373-1821)) Keywords: SEVEN RESULTS/

(C) Reuters 2007. All rights reserved. Republication or redistribution ofReuters content, including by caching, framing or similar means, is expresslyprohibited without the prior written consent of Reuters. Reuters and the Reuterssphere logo are registered trademarks and trademarks of the Reuters group ofcompanies around the world.nSYU001776

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.