Boost to Seek profit

SHARES in Seek have risen almost two per cent after the job ads portal lifted first-half profit and tipped full-year profit to be at the upper end of guidance.

The online job-search company booked a 21 per cent rise in profit to $102 million for the first half prompted by a sharp jump in revenue. Sales revenue rose 27 per cent to $620.3 million, from $487.9 million a year ago when weak economic conditions in Brazil and SouthEast Asia hit earnings. Chief executive Andrew Bassat said Seek was beginning to benefit from investments in its international businesses.