Seven Group Holdings Ltd
(ASX:SVW) has boosted its earnings guidance by 15 per cent over its last forecast.
Speaking at the company’s annual general meeting, CEO Peter Gammell says the rise in underlying group earnings before interest, tax, depreciation and amortisation and net profit in fiscal 2011 will benefit from a recovery in television advertising.
My Gammell says the performance of the group in the next year will be strongly tied to the continuing prosperity of China, and Seven believes that the outlook there remains very positive.
The media, industrial services and investment company was established in April, when Kerry Stokes was granted approval to merge $3 billion of his interests. Mr Stokes remains the groups executive chairman.
In August, Seven reported a $718 million net profit in the year to 30 June 2010.
