Seven West wows investors

Seven West wows investors
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Seven West stocks have soared 15% adding nearly $300 million to tis value following an investors’ day presentation that outlined a rosy future for the media group despite forecasting a drop in profits for for 2013.

Group CEO Don Voelte (pictured) told investors gathered at Sydney’s Museum of Contemporary Art this morning as well as though tuning in for a webcast that the worst was behind the organisation and that the probable drop of 2%-4% after tax in net profit would be the low point for the business.

He also pointed to the fact that the business had removed more than $100 million from its cost base, which would result in a spike in profits in the order of $75 million in 2014.

In a presentation that featured business heads Nick Chan of Pacific Magazines, Chris Wharton of Seven West Media, Tim Worner of Seven Network as well as Kurt Burnette, boss of sales for Seven West Media, and Rohan Lund, group COO, investors were clearly spell bound by the groups view of the future.

 

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