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2.94%

16.5¢ seven west media limited

Ann: 2020 SWM Annual General Meeting Addresses and Trading Update, page-54

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Virgil73

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12/11/20

22:13

Post #: 48839845
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Originally posted by tutes: ↑

From the Sydney Morning Herald today:

"Mr Warburton said net debt at the end of October was $425 million. The company has $350 million in cash.

"The changes we have implemented so far position the business strongly to capitalise on a market recovery, but there is still much to be done," he said. "M&A remains very much on our radar, but our initial priority is strengthening the balance sheet so we can participate in future market consolidation and resume dividend payments to our shareholders."

Mr Stokes said there were no plans for Seven to do a capital raising, but said he remained committed to the company despite its financial challenges.

"We believe in the company. We believe in what we're doing. We're not responsible for the circumstance we find ourselves in. We stand here today with a stronger company as a result of their hard work in these difficult times than we would have had otherwise. And because of that, I'm very confident going forward that the efforts that I put in and the others around me will be beneficial for all shareholders."

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So debt has gone up since end of 2020 FY? Was at $398M back then.

SWM Price at posting: 21.0¢ Sentiment: None Disclosure: Held
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Last 16.5¢		Change -0.005(2.94%)		Mkt cap ! $253.9M

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