Seven Group's FY profit lifts

Group tips fall of 40% in EBIT for current year after posting stellar result, driven by Westrac revenues growth.

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.  

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