Seek profits continue upward trajectory

Seek profits continue upward trajectory

Job advertising site Seek has reported another bumper year, with profit up 8%, to post a record full-year result.

B&T Magazine
Posted by B&T Magazine

After last year posting a 35% spike in profits on 2011 figures, Seek has revealed a net profit after tax of $141.1 million for the year to the end of June 2013.  

Overall revenue for the site climbed by a massive 40% year on year to $620.2m, with CEO Andrew Bassat stating the business achieved a record result in a tough economic environment.

“This was another record full-year result, attributable to strong growth across Seek Education, robust results in Seek International and a solid performance by Seek Domestic relative to the subdued conditions it faced,” he said in a statement on the ASX this morning.

Bassat added: “In the last two years or so, Seek’s financial results have been resilient to a relatively weak market conditions.

The company’s Chinese employment site Zhaopin also performed well, with revenue growth of 19% for the year.