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SEEK Provides Macquarie Conference Presentation Including Guidance Update

30 Apr 2019  |  16:28:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Macquarie Conference Presentation Including Guidance Update

SEEK provided Macquarie conference presentation stating that the 6-month revenue was A$20m, 72% growth vs pcp. The Company advised that there were differences in competitive landscape and market structure which impact applicability between REA and the Company but directionally, REA's experience gives an indication of ANZ's long-term upside. The Company continued to see a slowdown in macro conditions in several key markets which has resulted in an easing of ad volume and billing growth. Given impact of new education deals and strong momentum in several existing investments, the Company's expected FY19 losses from Early Stage Ventures (ESVs) has increased above the upper end of previous guidance range of A$40m to A$45m.

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