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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.

Runners wait for the start of Kumamoto castle Marathon in rain in Kumamoto, Kumamoto Prefecture on Feb. 16, 2020, amid the outbreak of a new coronavirus in Japan. Some were wearing a mask event they participate in full marathon. The number of the COVID-19-hit patients has reached to 68,500 and the death toll has been confirmed 1,665 so far as of February 16th in China. As the outbreak continues to spread outside China, the World Health Organization (WHO) declared the new coronavirus a Global Health Emergency on Jan 31st. ( The Yomiuri Shimbun via AP Images )

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