May 21, 2019 / 12:04 AM / a month ago

Australia's Seven West Media cuts FY guidance on weaker market

May 21 (Reuters) - Australian free-to-air television broadcaster Seven West Media on Tuesday cut its annual earnings guidance citing softer market conditions, especially in the advertising sector.

Seven West now expects underlying earnings before interest and tax for the year to June 30 to be in the range of A$210 million to A$220 million ($145.4 million-$152.3 million), compared with its previous target of flat to 5% growth.

Underlying EBIT for fiscal 2018 was A$235.6 million. ($1 = 1.4447 Australian dollars) (Reporting by Ambar Warrick in Bengaluru; Editing by Stephen Coates)

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