Seven Group Holdings (ASX:SVW) report mixed results for their first half

Company News

by Melissa Darmawan

Industrial services, media, energy and investment company Seven Group Holdings' (ASX:SVW) report their underlying net profit after tax is down 3 per cent to $247 million for the half year compared to prior corresponding period.

Trading revenue rose 4 per cent for the half year ending 31 December 2020 to $2.4 billion.

Their media arm, Seven West Media reduced their net debt by 42 per cent to $329 million. Advertising markets rebounded strongly in the December quarter, up 16.6 per cent. They also announced a long-term partnership with Google to provide news content.

The company increased its dividend by 10 per cent to 23 cents fully franked to be paid in April.

Shares in Seven Group Holdings (ASX:SVW) are trading almost 3 per cent lower at $22.42.