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.

Jessica Amir

Finance News Network
Jessica joined FNN in January 2017 after having worked in financial advising for seven years and in TV journalism for seven years, specialising in finance, equities and analysis. She has interviewed former Prime Ministers of Australia, Tony Abbott, Julia Gillard and Kevin Rudd and ex Treasurer Jo Hockey. Jessica has worked as a journalist with Sky News Business, ABC 1, ABC's The Business, ABC24 and has also been a regional Channel 7 and 9 TV reporter with Prime7 and Win News.