Westrac can benefit from mining growth and an ageing Cat heavy equipment fleet requiring support.
Seven Group shares initially jumped 16% upon release of fiscal 2018 results, and at the time of writing, are up nearly 9% at AUD 22.06. The market clearly loves it, but we're not sure why. Underlying fiscal 2018 NPAT, including expensing of TELYS dividends, increased 62% to AUD 308 million, 8% below our AUD 335 million forecast. The full-year ordinary dividend of AUD 42 cents was also below our expectations, barely changed on a lower-than-anticipated 43% payout. Net operating cash flow fell 15% ...Seven Group Holdings has six segments: WesTrac Australia, which provides heavy equipment sales and support to customers in Australia; WesTrac China, also providing heavy equipment sales and support in Hebei, Liaoning, Heilongjiang, Jilin, Shanxi, Inner Mongolia and the municipalities of Beijing and Tianjin; AllightSykes, engaged in the manufacture, assembly, sales and support of lighting, FG Wilson power generation and dewatering equipment as well as distribution of Perkins engines; Coates Hire, which is an equipment hire company; Media Investments, which relates to investments in listed and unlisted media organizations; Energy; and Other investments.
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