Online jobs portal SEEK Ltd
(ASX:SEK) has reported an annual net profit of $89.5 million, up 62 per cent from the year before and above market expectations.
Revenue increased 35 per cent to $281 million and earnings before interest and tax increased 20 per cent to $117 million for the twelve months to 30 June.
Joint CEO Paul Bassat says the company has experienced sustained growth, with online job ad volumes outpacing print job ads, with online now capturing around 80 per cent of all job advertisements.
The web portal says it had a record 3.9 million unique browsers in June and is well positioned for future growth.
Joint CEO Andrew Bassat says overseas investment in fast growing emerging economies is facilitating growth, SEEK recently announcing its acquisition of a 40% stake in a Mexican online job site.
The company declared a fully franked final dividend of 6.7 cents.
SEEK reported a profit of $55 million for the year to the 30 June 2009.
