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Business Description: Seek Limited (SEK) has two operating divisions - online job classifieds, and training and learning. SEK Commercial allows people to browse for business and franchises for sale. SEK Learning assists jobseekers with career development.
Strategy Analysis: SEK´s business model is built around the central proposition that advertisers and jobseekers will each migrate to the medium with the greatest number of relevant jobs and jobseekers respectively. Once dominance is established SEK will push through improved pricing and classified products, such as premium listings and move into education. The aim is to create a one-stop career related education and training service which, given SEKs strong brand name from employment classifieds, it appears a natural provider. SEK partners with education providers who supply the content to develop its breadth of service offerings.
Seek reported NPAT up 9.1% to $97.69m for the year ended 30 June 2011. Revenues from ordinary activities were $344.74m, up 22.3% from last year. Results were achieved due to sustained growth in the Employment Business and strong growth in Zhaopin. Diluted EPS was 28.9 cents compared to 26.5 cents last year. Net operating cash flow was $108.19m compared to $80.44m last year. The final dividend declared was 7.5 cents, taking the full year dividend to 14.3 cents compared with 11.9 cents last year. The Company recently announced that SEEK Asia increased its ownership to 80% of JobsDB, an online employment company with operations throughout South East Asia. The Company reported it is also well positioned in the fast growing Latin America region with its investments in Brasil Online Holdings.
The Age 7/02/2012 | ISRAEL'S Foreign Minister was headed for Washington overnight amid signs that the US and its Middle East ally hold diverging views on how best to resolve the standoff over Iran's disputed nuclear program.
Sydney Morning Herald 7/02/2012 | There will be fewer love hearts and boxes of chocolates this Valentine's Day for the short-lived chief executive of Perpetual Limited, Chris Ryan.
Sydney Morning Herald 7/02/2012 | HOTEL owners and operators are preparing for a busy year of openings and renovations as demand increases from domestic travellers.
The Age 6/02/2012 | AUSTRALIA has a reputation for embracing technological developments quickly. We had a record take-up of VHS, DVD and widescreen television, and it is widely claimed that the Land of Oz has more home theatres per head of population than anywhere else in the world.
Sun Herald 5/02/2012 | INVESTORS cheered during the week, perhaps convinced that the latest rearrangement of deckchairs on the good ship euro will do the trick and right the heavily listing vessel.
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