Plenty of jobs, we need workers: Seven Group boss | Colin Kruger
Seven Group chief executive Ryan Stokes says the federal government’s jobs summit, scheduled for next week, should focus on boosting skilled migration rather than job creation, as businesses continue to grapple with severe staff shortages.
The squeeze on available labour is top of the agenda for the Kerry Stokes-controlled conglomerate, which owns major stakes in Coates Hire, Westrac, Boral, and is the owner of the Seven Network. The comments came as Seven Group posted a 24.6 per cent rise in underlying earnings before interest and tax to $987 million for the year ending June 30, 2022, in line with market expectations. Seven shares closed the session 2.15 per cent stronger at $18.08.Revenue for the period rose 65.6 per cent to more than $8 billion while net profit, which was hurt by Seven acquiring a controlling stake in Boral last year, dropped 4 per cent to $607 million.
Seven declared a final dividend of 23 cents per share, in-line with last year, and forecast underlying EBIT growth of high single digits to low double digits for the year ahead.However, Credit Suisse said it is too conservative.
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