SYDNEY - [AAP] Shares in SEEK (ASX: SEK) have risen almost two per cent after the job ads portal lifted first-half profit and tipped full-year profit to be at the upper end of guidance.

The online job-search company booked a 21 per cent rise in profit to $102 million for the six months to December 31, prompted by a sharp jump in revenue.

Sales revenue rose 27 per cent to $620.3 million, from $487.9 million a year ago when weak economic conditions in Brazil and South-East Asia hit the company's international division.

Chief executive Andrew Bassat on Monday said SEEK was beginning to benefit from investments in its international businesses, with the division's revenue up 12 per cent to $340.1 million--mainly due to increased sales from Chinese online recruitment provider, Zhaopin.

"This has emboldened us to continue investing and accelerate our efforts," Mr Bassat said on Monday.

"If we execute well, we expect there will be significant upside given the large size of their addressable markets."

The company's Australian and New Zealand employment division delivered $196.7 million in revenue, 15 per cent stronger than the same period last year, driven by growth in advertising volumes, price increases and premium products.

SEEK also upgraded its earnings growth guidance to between 14 per cent and 15 per cent, from 13 per cent, and said it expects full-year net profit to come in toward the upper end of its $225 million to $230 million guidance.

Investors responded positively to SEEK's financial results, with shares rising 39 cents, or 1.9 per cent to $20.50 by 1216 AEDT on Monday.

SEEK LIFTS HY PROFIT:

* Net profit up 21pc to $102m

* Sales revenue up 27pc to $620.3m

* Interim fully franked dividend up 1 cent to 24 cents

 

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