Stokes: Seven's share price does not reflect its strength

By David Blight | 11 October 2012
Seven Network chairman, Kerry Stokes.

Seven West Media chairman Kerry Stokes has argued that his company's "market-leading presence" is not reflected in its share price.

In the company's annual report to shareholders Stokes conceded the company's share price was struggling, but said the business itself was performing strongly.

Seven West Media's share price has been tumbling steadily throughout the year, from around $3.70 in April to $1.26 at the time of writing.

Stokes said: “Our market-leading presence in broadcast television, newspaper and magazine publishing and online has seen us continue to build our businesses.

“Unfortunately our market leadership and current profitability are not reflected in our share price.

“While we are not alone, particularly in the media sector over the past twelve months, this is a primary concern for the board of your company.”

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