Australian Job Market Boom Brings Profits Increase For Advertiser Seek
Online employment directory Seek has raised its profit forecast as businesses across Australia, and New Zealand, are hiring more workers than expected.
On Tuesday (pdf), Seek revised the forecast for its 2021 financial year net profit from $100 million to $140 million and its net income from $460 million to $480 million.
Seek reportedly had the highest number of job ads in March on their website since their inception, which had a 75 percent increase over the year and a 10.3 percent increase over the month.
The three industries with the highest growth in job ads were hospitality and tourism, services, and healthcare. The former two suffered particularly hard from the lockdowns and experienced many job cuts.
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SEEK (ASX:SEK) share price on watch after naming its new CFO
James Mickleboro | March 11, 2021 8:56am |
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This follows the announcement of further leadership changes in the c-suite this morning.
What did SEEK announce?
Hot on the heels of the appointment of Ian Narev as the company’s next Chief Executive Officer, the company has found its new Chief Financial Officer.
According to the release, SEEK has appointed Kate Koch as its new Chief Financial Officer. She will replace the outgoing Geoff Roberts when he retires at the end of June. Mr Roberts’ retirement was previously announced to the market in January.
Ben Thompson, CEO and co-founder of Employment Hero
HR, payroll and benefits platform, Employment Hero has raised AU$45 million in a Series D funding round to accelerate growth in Australia, and double-down on its international expansion.
The latest funding was led by return investor SEEK, with participation from previous backers, OneVentures and AirTree Ventures, as well as the company’s newest investor, Salesforce Ventures.
As part of its first wave of international roll out, Employment Hero successfully launched localised versions of its signature people, payroll and benefits solution in New Zealand, the United Kingdom, Malaysia and Singapore in late 2020.
What will Employment Hero use this funding for?