Seek sales revenue up

ONLINE job ads portal Seek has pushed its sales revenue past the $1 billion mark as investments in its Australian and New Zealand business start to deliver.

Seek’s underlying net profit, which excludes one-off significant items, grew 11 per cent to $220.8 million in the 12 months to June, while total revenue from ordinary activities rose 9 per cent to $1.05 billion.

Seek chief Andrew Bassat said the Australia-NZ business was continuing to grow rapidly, with revenue from the division up 48 per cent since 2014 thanks to investments in product and technology and despite subdued macroeconomic conditions.

The division’s sales revenue climbed 14 per cent to $355.9 million.

Earnings before interest, tax, depreciation and amortisation jumped 11 per cent to $197.9 million, supported by yield, new products and enhancements.

Seek shares yesterday 3.2 per cent to $17.26. fell