Seven Group Holdings (ASX:SVW) 1HFY20 profit, earnings and revenue higher

Company News

by Anna Napoli

Diversified investment group, Seven Group holdings (ASX:SVW) has reported underlying net profit (after tax attributable to shareholders) of 254.7 million for the first half of the 2020 financial year, an increase of 3.2 per cent on the year earlier period.

Trading revenue of $2.3 bn up 12 per cent with growth achieved in all Industrial Services business.

Earnings (EBIT) of $418 million up $27 million or 7 per cent on the same time last year. Seven says the result was driven by WesTrac performance.

The company has declared an interim fully franked ordinary dividend 21 cents in line with last years dividend.

The Group says it is well positioned to capitalise on the strong medium to long term outlook for mining production, infrastructure investment, east coast gas demand and other domestic LNG export opportunities.

Seven Group Holdings expects FY20 underlying EBIT to be high single digit growth on FY19.

Shares in Seven Group Holdings (ASX:SVW) closed 2.7 per cent higher at $19.70 yesterday.