Seven Network Ltd (ASX code: SEV) was looking forward to the...

Seven Network Ltd (ASX code: SEV) was looking forward to the coming 12
months as it built on its strengths to create a multi-faceted and
integrated media company, executive chairman Mr Kerry Stokes told the
annual meeting in Sydney this morning.
"You will recall at our last annual general meeting that I was
able to let our shareholders and the market know that the company
expected to see a 40 per cent lift in earnings before interest and
taxation in the July-December 2005 half-year.
"Today, I am pleased to advise that the strength of our
television business and a reduction in costs associated with our C7
legal action means that, based on current revenue projections, we are
trending towards a 40 to 45 per cent lift in earnings before interest
and taxation in the current half-year to December," he said.
"This current trend in EBIT does not include the profit on the
sale of our interests in Telstra Dome. As you will recall, we have
previously advised that the profit on the sale of these interests is in
the order of $60 million after tax."
Mr Stokes said Seven was "competitive in primetime".
"We led in news and public affairs for the second consecutive
year and we dominate in breakfast television.
"We continue to build our audiences in key demographics.
"We are well-placed to build on this success over the coming 12
months - with our key primetime programming this year coming back in
2007," he said.