SEEK Limited (ASX: SEEK), announced full year results for the financial year 2016 ending 30th June, with total group revenue figures at a record A$ 950.4 million and EBITDA at A$ 366.7 million. Net profit after tax (NPAT) came in at A$ 198.1 million, exceeding the company’s guidance for the full year.
SEEK is a diverse group of companies with interests in education, employment and volunteer businesses with offices spread across Australia, Asia, Americas and Africa.
According to the company website, SEEK has more than 100 million profiles of jobseekers and over 3 million job opportunities at any given point of time.
Commenting on the results, CEO and Co- founder Andrew Bassat said the company delivered strong results in spite of weak macro conditions globally, due to the good performance from their online job advertising and benefits from the merger integration. The company is looking to be a key player in the human capital management industry by re-investing in the business and making strategic acquisitions.
- Record domestic revenue and EBITDA growth at A$ 313.1M and A$ 177.8M, an increase of 15%, highest in 5 years
- Robust International revenue and EBITDA growth at A$ 592.3M and A$ 193.1M, correspondingly, higher by 17% and 18%
- International business contributed more than half of the Group’s revenue
- Announced a dividend of 19 cents per share for the second half of FY16, bringing the total FY16 dividends to 40 cents per share
- H2 FY16 results of SEEK learning impacted by regulatory changes in the “For- profit education industry”.
According to Andrew Bassat, there is huge untapped potential globally for the human capital resources industry, which the company is looking to capitalise by investing aggressively to implement their growth strategy.
The company reiterated its FY17 guidance with Net Profit after tax (NPAT) expected to be in the A$ 215- 220 million range.
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