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Australia’s market-leading online employment classifieds business – SEEK, has reported another half of strong profit growth, and been rewarded with a 10% jump in its share price. SEEK’s online employment classifieds business once again grew strongly in both Australia and internationally, delivering the company an overall net profit after tax of $AUD41.2million. Moreover the company Click on the title to read more SEEK profit jumps, says LinkedIn is no real competition. SEEK Limited’s latest financial results, showing after-tax profits up 9% to $AUD97.7 million, clearly reflect the company’s continued domination of the Australian online job classifieds marketplace. With 70% of all the online job ads, SEEK is a clear market leader. Its leading competitors, News Limited’s CareerOne and Fairfax’ My Career, have market shares of just Click on the title to read more Seek domination of Australian online job ads continues An $80million investment in the Leibovich brothers CatchoftheDay business announced last week may well be the single largest investment in Australia’s ecommerce sector to date. It has certainly attracted a lot of attention, not least because the investing consortium includes one Australia’s richest men - gambling mogul, James Packer. According to a statement released by Click on the title to read more Catch of the Day sells 40% share for $80million – Australia’s largest ecommerce sector investment Australia’s largest listed ecommerce companies are all reporting record profits. Seek, Wotif, Carsales and Melbourne IT have all reported their latest yearly or half-yearly financial results recently, and all are growing strongly. Carsales.com Limited (ASX:CRZ) was the first to report, on the 18th of August, and revealed a 41% increase in net profit after tax Click on the title to read more Australian eCommerce companies report record profits When Kerry Packer sold his 49.6% stake in online classified jobs site SEEK.com.au last week much of the expert commentary remarkably avoided the most obvious explanation, namely that the company’s profits have fallen, and organic growth prospects have all but disappeared. The simple fact is that the latest financial results for SEEK show sales, profits Click on the title to read more SEEK profit falls as weak labour market hits online job classifieds |
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