Seven Group (ASX:SVW) will not provide market guidance due to uncertainty

Company News

by Anna Napoli

Seven Group Holdings (ASX:SVW) will not provide revised market guidance at this time due to the uncertainty of current and ongoing COVID-19 measures.

The investment group says financial year 2021 guidance will be assessed at the time of the full year results release in August.

COVID-19 has unprecedented impact on the group’ advertising market with its metro free to air ad market down 30.7 per cent in April and down 9.3 per cent for the year to date.

The company says new management team has plans to further deleverage the business and reposition for recovery.

Shares in Seven Group HoldIngs (ASX:SVW) are trading 3.4 per cent lower at $16.44.