Shares in diversified operating and investment company Seven Group Holdings Ltd Fully Paid Ord. Shrs (ASX: SVW) have had a healthy 12 months in terms of pricing, hitting 52-week high level on May 3 when its share price reached $18.83 – up from $11.26 at this time last year.
Seven Group's investor update at the Macquarie Australia Conference yesterday tabled its strategic framework for maximising shareholder return through a simplification of its group structure with the selloff of WesTrac China, its Coates Hire acquisition and the increase of its stake in Beach Energy's Lattice acquisition to 25.6%.
Investors have responded well to Seven Group's first-half results coming in ahead of guidance with underlying NPAT up 81% on the previous corresponding period to $160 million, with underlying EBIT for the same timeframe also rising 42% to $224 million.
Seven West Media Ltd (ASX: SWM) is also showing signs of recovery with shares up to 66c per share at May 3 close from an April 18 low of 49c.
But in the media sphere Nine Entertainment Co Holdings Ltd (ASX: NEC) continues its dominate with the entertainment stock at its own 52-week high with a May 3 close of $2.51, up from a 52-week low of $1.20.
