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MERRYL LYNCH CUTS PROFIT FORECAST FOR AUSTRALIA'S SEVEN BY 47%.
SYDNEY, March 1 Asia Pulse - The profit forecast for Seven Network Ltd (ASX:SEV) has been cut by Merrill Lynch by almost 50 per cent after yesterday's worse-than-expected first half result.
Merrill now expects Seven to post a pre-abnormal net profit of $A46.1 million ($US24.17 million) for the full-year, a downgrade of 47 per cent.
Its 2001/02 full-year profit forecast has been lowered to $A77.6 million ($US40.69 million), down 23 per cent.
Seven yesterday announced to the market a net profit for the first half of 2000/01 of $A13.125 million ($US6.88 ...
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Source: HighBeam Research, MERRYL LYNCH CUTS PROFIT FORECAST FOR AUSTRALIA'S SEVEN BY 47%.