Seek announces record profit, up by 64 per cent in 2014 second half
Seek 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.”
Can someone explain how SEEK have turned a profit, little lone even still exist?
Nobody I have spoken to recently searching for a new job bothers with it – its filled with blind ads by recruiters (read: scumbags) and is the last bid attempt by all major companies after they have exhausted every other resource available to them.
Those candidates searching harness their networks or (as a last attempt) specialist recruiters offline. Am I wrong that this is the way the market has been heading for the past few years (at least)? How have LinkedIn done comparatively?
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Seek’s talent model: Get potential candidates to agree to a salary before they interview.
She seeked but she did not find.
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Personally prefer searching on LinkedIn for roles.
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@ Jerry – Seek earn big money via their Seek Learning brokerage. This is a growing sector for them.
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