Seven Group (ASX: SVW) upgrades FY24 guidance, expects 20-24% EBIT growth

February 14, 2024 05:08 PM AEDT | By Team Kalkine Media

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Seven Group (ASX: SVW) upgrades FY24 guidance, expects 20-24% EBIT growth — Image source: Explode, Shutterstock.com

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Seven Group Holdings Ltd (ASX: SVW) has recently announced upgraded guidance for FY24, promising mid to high-teen EBIT growth. This marks a significant development, reflecting the company's resilience and positive performance in a dynamic market. Let's delve into the key highlights and projections that shape the promising future of SVW.

Group Guidance Upgrade: Mid to High-Teen EBIT Growth in FY24

Seven Group sets the stage for a robust financial year with an upgraded guidance of mid to high-teen EBIT growth. This strategic move positions SVW for a promising future, signaling confidence in its ability to navigate and thrive in the evolving market landscape.

Westrac's Positive Second Half Outlook

At Westrac, the strengthening customer demand and first-half inventory investment underpin a positive second half outlook. This indicates a proactive approach to meeting customer needs and leveraging market trends, contributing to the overall positive trajectory for SVW.

Coates and Boral: Sustained Resilience in Infrastructure and Construction

Amidst resilient infrastructure and construction investment, Coates and Boral expect continued support for customer activity. This sustained resilience reflects the strategic positioning of SVW in key sectors, fostering stability and growth.

FY24 Industrial Services Segment: Projections of 20 - 25% EBIT Growth

SVW takes a bold step by upgrading the FY24 industrial services segment guidance, anticipating a remarkable 20 - 25% EBIT growth. This projection underscores the company's commitment to driving growth in core business segments and capitalizing on emerging opportunities.

Coates' Positive Outlook: Growth Expected in FY24 and FY25 in Engineering

The outlook for Coates remains positive, with growth expected in FY24 and FY25, particularly in its largest end-market exposure of engineering. This strategic positioning aligns with market trends, setting the stage for sustained success and value creation.

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