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Seek announces record profit, up by 64 per cent in 2014 second half

SeekSeek has announced a second half year profit of $182.8 million, up 64 per cent, a new record for the online jobs listings company.

Overall revenue for the company was up 17 per cent to $395.3 million for the period July to December 2014.

The company’s net profit post tax increased 9 per cent to $94.1 million, short of the forecasted $101 million.

Seek chief executive and co-founder Andrew Bassat said: “Seek Domestic’s financial results reflect the strength of the business model and a continuation of improving operating conditions,”

“Seek has a strong track record in capital allocation which has historically translated into strong financial results,” Mr Bassat said.

“Our expectation is that the reinvestment in the placement strategy and in adjacent career products and services will lead to Seek delivering more value to candidates and hirers and ultimately Seek growing its share of placements.”

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