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Seven Group Holdings Ltd Fully Paid Ord. Shrs soar on investor update

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.

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Motley Fool contributor Carin Pickworth has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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