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SEEK Limited (ASX: SEK): An online employment marketplace company witnessing revenue growth

Fri 09 Jun 23, 10:30 AM | Team Kalkine

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SEEK Limited (ASX: SEK) is an Australian human resource consulting company with a presence across Asia-Pacific and Latin America. It is engaged in the online matching of hirers and candidates with career opportunities and other related services. The company's SEEK Growth Fund covers online education services and investments in early-stage ventures.

In 1HFY22, the company registered a 21.2% growth in its revenue to AUD 626.7 million as against AUD 517.2 million reported in the year-ago period. Meanwhile, its net profit rose by 6.6% annually to AUD 135 million, compared to AUD 126.7 million reported in 1HFY22.

SEK's financial performance was driven by higher job ad volumes and higher yield from an uptick in the adoption of depth products and increased ad prices. The period saw an 8% year-on-year jump in ad volumes, backed by the ongoing strength of the labour market.

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