Seek shares rally after swing to full-year profit
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More news: Job listings company Seek was the top performer on the ASX 200 after swinging to a $238.2 million profit in the 2025 financial year.
Seek shares were up 6.1% to $27.24 at 12:15pm AEST, extending 12-month gains to around 25%.
UBS analyst Tim Plumbe said positive momentum in Asia was a highlight of Seek's result, while the platform's performance in Australia was an "ongoing demonstration of the strength of the business."
E&P analyst Entcho Raykovski noted that the composition of Seek's FY26 guidance is "arguably better than expected", with the company targeting stable volumes and 10% yield growth in Australia and New Zealand.
Seek swings to full-year profit of $238m
The news: Job listings platform Seek has posted a full-year reported profit of $238.2 million, after posting a $59.9 million loss in financial year 2024, as the company ramped up the release of new products.
The numbers: The market consensus estimate for full-year profit was $203.2 million, according to Visible Alpha.
EBITDA meanwhile came in at $459.2 million, lower than the $468.9 million posted in the previous year. Total expenditure decreased by 2% year on year to $761 million.
Seek’s board declared a final dividend of 22 cents per share. This takes the FY25 dividend to 46 cents per share fully franked, up from 35 cents per share during the previous corresponding period. The market consensus estimate for FY25 was 43 cents.
For FY26, Seek is guiding adjusted profit of between $190 million and $220 million, which at the midpoint is 32% year-on-year growth. Seek is also guiding EBITDA for between $510 million and $550 million and total expenditure of $810 million to $840 million.
The context: Seek CEO and managing director Ian Narev said the company achieved half-on-half revenue growth in the second half of FY25 for the first time in more than two years.
Even though market volumes declined, the company saw yield growth amid the delivery of more new products that "at any time in Seek's history". Seek's freemium offering is now available in five of its six Asian markets with early performance exceeding initial expectations in "ad scale and new hirers", according to Narev.
The sources: ASX, UBS reearch, E&P Capital research
