Airlie FM Sector Spotlight: Seven Group
Airlie FM Equity Analyst Joe Wright provides a backdrop on Seven Group, a diversified investment business operating mining and industrials companies including WesTrac, Coates and Boral.
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Seven Group Holdings Limited (“SGH”) is a leading Australian diversified operating and investment group with market leading businesses and investments in industrial services, oil and gas, and media. In industrial services, WesTrac Group is the sole authorised Caterpillar dealer in Western Australia, New South Wales and the Australian Capital Territory in Australia. SGH Energy is developing an expanding presence in oil and gas projects in Australia and the United States.
SGH owns Coates Hire, Australia’s largest equipment hire business; and AllightSykes, a supplier of lighting towers, generators and pumps. In media, SGH has a 41 per cent shareholding in Seven West Media, Australia’s largest multiple platform media company, including the Seven Network, West Australian Newspapers, Pacific Magazines. The Group also has a 28.6 per cent shareholding in Beach Energy Ltd and has interests in oil and gas projects in Australia and the United States.
Airlie FM Equity Analyst Joe Wright provides a backdrop on Seven Group, a diversified investment business operating mining and industrials companies including WesTrac, Coates and Boral.
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Kerry Stokes’ main listed company, Seven Group Holdings (ASX:SVW), wants shareholder approval to change its registered company name to "SGH Limited." This move aims to further distance the company and its empire from its ailing TV arm, Seven West Media.
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Kerry Stokes’ Seven Group Holdings (ASX:SVW) saw pre-tax earnings jump 20% for the year to June, as results from two associated companies, Beach Energy and Seven West Media, collapsed in the same period.
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The Stokes family's Seven Group Holdings (ASX:SVW) has followed through on a commitment made in April during its takeover of the minorities in Boral, announcing a post-transaction dividend of 30 cents per share.
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It’s goodbye, Boral (ASX:BLD), as the company’s briefly rebellious independent directors accept a remade offer from Seven Group Holdings, the largest shareholder.
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Seven Group Holdings refutes Boral's rejection of its takeover bid, citing errors in the independent expert report and emphasizing the finality of its offer.
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Kerry Stokes’ Seven Group Holdings (ASX:SVW), hoping for an easy mop-up bid for the rest of Boral (ASX:BLD), has hit heavy going with the target company telling shareholders on Tuesday to reject the offer.
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Kerry Stokes' Seven Group (ASX:SVW) is bidding to acquire the 28.4% minority stake in Boral (ASX:BLD) with an offer that, despite its $6.05 per share price, holds a mere 20 cents premium to Friday's closing sale of $5.85.
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Seven Group Holdings (ASX:SVW), led by Kerry Stokes, has once again demonstrated its resilience in the face of economic fluctuations, announcing record revenue and earnings for the December half-year period. However, in a move reflecting its strategic approach to financial management, Seven Group has opted to maintain its interim dividend at 23 cents per share for the seventh consecutive six-month period.
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Kerry Stokes' conglomerate, Seven Group Holdings (ASX:SVW), can attribute its robust revenue and earnings growth of over 20% to the stellar performance of its industrial entities, namely WesTrac, Coates, and Boral, during the fiscal year ending on June 30.
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For all the upbeat talk, Seven Group’s decision to hold its dividends steady for FY2021-22 tells us a lot regarding what the company really thinks about the coming financial year.
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