Seek stock drops as CEO tips more corona-virus strife ahead
MELBOURNE: ASX-listed job search operator Seek has reported revenue of $875 million and net profit after tax of $75. 6 million for the six months ended December 31 – but has warned its Australian and overseas businesses are already being affected by the coronavirus situation.
The Melbourne-based company predicted that continued growth of coronavirus could see its full-year profit slashed and overall revenue held down to $100-120 million.
Seek CEO/co-founder Andrew Bassat said: “It’s impossible to forecast the impact of coronavirus, but we have provided a set of assumptions to help assess the negative flow-through on our FY20 financial performance.
Seek shares finished yesterday at $21.85, down 4.1pc.