Seven Group profit jumps 36% to $604m

The news: Stokes' family-controlled investment and operating conglomerate Seven Group Holdings has posted a statutory net profit after tax of $604 million, led by growth in its industrial businesses.

The numbers: Group revenue was up 20% to $9.6 billion, with construction materials company Boral making the biggest gains, lifting its pre-tax earnings 117% to $232 million. Caterpillar dealer WesTrac was the group's biggest earner, raking in half a billion dollars before tax and interest. However, SGH's 39.8% interest in media group Seven West Holdings saw a 27% profit reduction and contributed $57.9 million to earnings. SGH left its dividend unchanged from last year at 23 cents per share, fully franked.

The context: Seven Group expects combined sector growth to continue next financial year but forecasts single-figure earnings growth, stabilising from this year's 20%. On the media front, SWM is targeting a 40%+ total TV revenue share in FY24.