Seven Group Holdings Limited
(ASX:SVW) has posted a 58 per cent fall in its first half net profit, coming in at $52 million.
The company’s result was weighed down by a $161.8 million impairment charge to the value of its investment in Seven West Media.
Seven Group says, "The share price of Seven West Media has recovered significantly since the December 31, 2011 and should it remain at these levels.”
On an underlying basis Seven Group expects its underlying net profit after tax and excluding significant items to grow by up to 30 per cent in fiscal 2012.
An interim fully franked dividend of 18 cents per share has been declared.
