Seek: Result 2016

Seek’s 2016 result was a re-run of the February interim. Early stage ventures will need to be watched but the result certainly justified last year’s Buy recommendation.

Is Seek morphing into a venture capital fund? It spent $19m on early stage ventures in 2016. This year management forecasts Seek will spend $25m. You only need look to the company’s long-term performance – earnings have quadrupled over the past ten years – to understand this management team is adept at creating value. But be warned; several of these investments will inevitably be duds.

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