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Seven Group reports profit decline on media write-down

Seven Group Holdings has reported a steep decline in first-half net profit as a strong rise in earnings from its WesTrac equipment business was offset by a write down in the value of its stake in Seven West Media.

The Kerry Stokes-chaired company said net profit for the six months to December 31, 2011, came in a $52.14 million, down 57.8 per cent from the prior corresponding period.

Seven said it booked an impairment charge of $161.8 million in the value of its investment in Seven West Media, and a further $5.8 million charge on other investments.

The company said the writedown in Seven West reflected its prevailing share price at December 31, 2011.

"The share price of Seven West Media has recovered significantly since 31 December, and should it remain at these levels, the majority of the impairment is likely to reverse in the second half," Seven said in a statement.

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Share Price

Closing price for the last 90 trading days
Source: Morningstar

BN30 Index

Index = 100 as of 4 Jan 2016
Source: Morningstar

Total Shareholder Return as at 30/04/18

1 year TSR5 year TSR
166thSeven Group Holdings69%20%
401stWesfarmers7%5%
410thAustal6%24%
490thAutomotive Holdings Group-4%2%
593rdSeven West Media-23%-17%
721 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

27/02/18
$4.5m Sold
13/02/18
$350k Issued
01/05/14
$300k Sold
Total value as at the date of the transaction
Source: Morningstar

Revenue

1st-Wesfarmers$68,648.0m
2nd-Automotive Holdings Group$6,079.6m
3rd-Seven Group Holdings$2,340.3m
4th-Seven West Media$1,679.0m
5th↑Austal$1,325.3m
238 listed industrial companies ranked by revenue.
Source: Morningstar

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