Seven Group Holdings (SVW) is tipping a fall in earnings of up to 40% in the current year as it warned on trading conditions across its industrial and media divisions, after posting a sharp rise in profit for the year to June.
Net profit jumped to $488.6 million a share, from $176.7 million in the previous year. The huge increase was helped by a $50 million gain on the $491 million sale of its share in Consolidated Media Holdings.
Underlying profit after tax increased 16% to $398.9 million, ahead of market expectations for around $352.9 million.
Revenues grew 6% to $4.75 billion in the period, from $4.46 billion.
It will pay a fully-franked final dividend in line with the 20 cents paid last year.