Seven Group Holdings net profit dives, sells WesTrac China

Company News

by Jessica Amir

Seven Group Holdings (ASX:SVW) has reported its net profit attributable to shareholders fell 77.4 per cent to $44.5 million for the 12 months to 30 June 2017.

The media, mining and construction business saw its revenue from continuing operations rise to $2.28 billion over the year to 30 June 2017.

Its underlying earnings before interest and tax (EBIT) rose 10 per cent on FY16, hitting $333.3 million.

The company declared a final dividend of 21 cents fully franked and an interim dividend of 20 cents also fully franked.

At the same time the company also announced it would sell its WesTrac China business for $540 million.

Seven Group Holdings (ASX:SVW) are trading about 7.3 per cent higher to $12.66.
 

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