Andrew Bassat's SEEK Grows Revenue 22% With Big Gains Internationally

Andrew Bassat

Online classified jobs group SEEK lifted revenue 22% to $756.4 million up 22% but full year statutory net profit fell 35% to $195.6 million.

However, underlying net profit, excluding significant items, was up 27% to $179.7 million.

Co-Founder Andrew Bassat said the the result was a record, with all divisions performing well in moderate economic conditions.

“As market leader in Australia and New Zealand, combined with leading product and technology offerings, we’re well positioned for future growth,” he said.

SEEK International continues to deliver with 25% growth in earnings, driven by strong organic growth across China, Asia and Latin America.

“These results reflect the benefit of re-investment and strong operational execution,” Bassat said.

Bassat said he expected solid growth in revenue.

In Australia and New Zealand revenue grew 3% compared to 16% by SEEK International.

SEEK’s vital statistics:

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