The CEO of Seven Group, a fan of the AFL’s fallen West Coast Eagles, wants a reboot of optimism but worries about energy policy.
the venerable Canberra-based art institution which is facing its own crisis because of a budget crunch.
The exposure to different industries via the Seven Group portfolio means that Stokes presides over a true conglomerate. That diversification brings both defensive qualities but also criticism from some outsiders that investors might be better off buying shares in the underlying-listed companies like Beach Energy or Boral.“It’s very rare that everything is firing with the same intensity”.
But there is also no prospect of adding a new division to Seven Group for now. “We’re not going to do anything else at this stage”. High-growth industries such as lithium and rare earths are closely monitored, with WesTrac having exposure to a bedrock of the Australian economy though mining.
Boral’s profits tumbled by 32 per cent in 2021-22. Under previous chief executive, Zlatko Todorcevski, a job cutting program resulted in the exit of 220 people in June, July and August, bringing $35 million in annualised savings. Boral brought in PwC under a“It has probably taken its eye off the core opportunity”.
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