Disgraced Seven reveals huge profit fall, flags more sackings, but says nothing about NDAs

Seven might be able to keep victims of its toxic workplace culture silent but there’s no keeping quiet about its rotten finances: this morning it reported a 69% fall in statutory net profit after tax to just $45 million, with underlying net profit after tax excluding significant items falling 46% to $78 million.

The discredited broadcaster, now associated more with rapists, war criminals, newsroom disasters, and sexual harassment and bullying than with journalism or family entertainment, blamed a weak economic environment for a 33% decline in EBITDA. Seven’s board cancelled its share buyback and announced — surprise surprise — that no dividend would be paid.