Seven Group's shares were up 8.01 per cent to $12.74 late in afternoon trade after the company unveiled a 77.4 per cent drop in its headline profit to $44.5 million, weighed down by a huge writedown in the value of its stake in Seven West Media.

Kerry Stokes' holding company took a $245.6 million hit from its share of Seven West's near $1 billion in impairments, although profits from other one-off arrangements trimmed Seven Group's total impairments to $169.2 million.

The company's underlying pre-tax profit for the 12 months to June 30, stripping out the writedowns, rose 17 per cent to $333 million, which was at the upper end of its guidance to investors.

Seven Group managing director Ryan Stokes said the result demonstrated the strength of the company's services and energy businesses as the company flagged it might look for acquisitions following the $540 million sale of its WesTrac operations in China.

"Previous cost-out and capital management strategies, together with the strength of the recurrent product support revenue streams in WesTrac, have aided in the delivery of a 20 per cent growth in underlying earnings per share," he said.

The company predicts that underlying pre-tax profit will grow between 5 and 10 per cent in the coming year.

Part of that will be driven by a strategy of selling spare parts to the big miners, which was paying off as large operators "sought to ameliorate their maintenance backlog on an ageing fleet".

The company's WesTrac Australia business posted 10 per cent growth in parts market share.

Revenue from that business grew 15 per cent off the back of record parts volumes.

"WesTrac Australia anticipates that ageing equipment will need to be replaced as iron ore and coal prices support investment in the mining sector," a statement said.

Seven Group will pay a final, fully franked dividend of 21?? a share.

with AAP