Seek (ASX:SEK) push through economic uncertainity

Company News

by Lauren Evans

Seek (ASX:SEK) reported revenue of $1,591.1 million for the year ending 30 Jun 2021 (FY21), edging 1 higher than the prior year amid ongoing Covid-19 disruptions.

The online employment marketplace recorded earnings before interest, taxes, depreciation and amortisation of $473.6 million, up 15 per cent from the prior year.

FY21 started deep into the first wave of Covid-19, which then gave way to a strong recovery in Australia, New Zealand, and many Asian markets. Seek made small adjustments as a result of the volatility yet their focus remained firmly on the long-term.

Reported net profit after tax reached $752.2 million in FY21, a loss of $113.1 million from the prior year. 

Seek CEO Ian Narev said: "Our decision early on in the pandemic to continue to invest in our people and capability at a time of high economic uncertainty paid off earlier than we expected. Not only did we maintain momentum on our core strategic priorities, but we in fact set ourselves bolder goals, particularly in relation to the upgrading of our product and technology infrastructure."

Final dividend of 20 cents per share, fully franked was reported, expected to be paid on 5 Oct 2021.

Shares in Seek (ASX:SEK) are trading 1.1 per cent lower at $31.16.  

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