Job advertising, a leading indicator to official employment numbers, in Australia is proving to be firmer than expected.
Andrew Bassat, SEEK’s Co-Founder and Chief Executive Officer, will tell the company’s annual general meeting later today that trading conditions have improved.
In a note ahead of the AGM, SEEK says trading conditions for SEEK Domestic have improved.
Previously SEEK said it expected advertising volumes to be flat to a gentle decline in the current financial year.
“Based on the first four months of the financial year, we are observing improving trends with flat to gentle increases in ad volumes on a month on month basis,” the AGM note says.
Based on current conditions, SEEK expects revenue and earnings to be slightly ahead of last financial year.
However, it warned that trading conditions in early January/February are important lead indicators.
In 2013, revenue grew 40 per cent to $620.2 million and earnings 24 per cent to $239.6 million.