Seek reports over $1B in revenue in FY2017 results

30/10/2017 10:33:00

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Recruitment website Seek (ASX:SEK) has released its FY2017 annual results, posting more than $1 billion in revenue for the first time.

Seek’s profits however were down from the previous year to $340.2 million.

EBITDA was up 2 per cent compared to the previous year, a reflection of its continued investments, capitalising on long-term growth opportunities.

Seek’s Chinese-based company Zhaopin has seen a 13% growth to $372.9 million, whereas Brasil Online has dropped 5%.

Revenue in Seek Asia has declined due to economic conditions, which the company said are beginning to improve.

Shares in Seek (ASX:SEK) are trading 1.37 per cent higher to $18.49.