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Seven Takes $360m Hit; Shares Up

Seven Takes $360m Hit; Shares UpThe share price rise came despite Seven flagging a 10
per cent slide in earnings for the year ahead.

Chief executive Ryan Stokes, pictured, said the company’s free cash flow
remained strong and Seven Group is on the lookout for new acquisitions, with
the current state of the mining services and oil and gas sectors presenting an
opportunity to pick up assets and businesses relatively cheaply.

“We have a business that works through that resources cycle and that gives
us an opportunity to look at various other segments and sectors,” he told
the AAP newswire.

The Seven TV network subsidiary expects low single-digit growth in the TV
advertising market, along with improvements for its magazines and newspaper
business.