An investment fund profit helped Seek overcome weaker operational earnings to report a return to bottom line profit in the 2025 financial year (FY25).
The online employment marketplace said reported profit was $238.3 million in the 12 months to 30 June 2025, compared with a loss of $59.9 million in FY24, which included a $177.5 million loss from the company’s investment in the SEEK Growth Fund.
Reported profit in FY25 included a net profit of $88 million from the Fund, less significant items of $5 million, and an adjusted profit of $155.2 million, which was 13% below FY24.
This was due to lower earnings before interest, tax, depreciation and amortisation and higher amortisation, partially offset by a reduction in tax expense on lower earnings.
The fund’s net profit was driven by a 7% increase in the total portfolio value, including distributions, bringing SEEK’s return on investment since the inception of the Fund to 32%.
Net revenue grew 1% to $1.0904 billion as double digit yield growth offset weaker market volumes and ‘freemium’ impacts, while expenditure fell 2% to $761 million, with operating expenses up 3% and capital expenditure down 19%.
Directors declared a fully franked final dividend of 22 cents per share to be paid on 2 October 2025 to shareholders registered on 4 September 2025, lifting the full year payment to a fully franked 46 cents per share, a 31% increase on the prior year.
CEO and Managing Director Ian Narev said half-on-half revenue grew for the first time in over two years due to yield growth and new products, and despite a decline in market volumes.
“Following the completion of our unification project in the last financial year, we have been clear on our key strategic goals: grow placement share, grow yield and deliver operating leverage,” he said in an ASX announcement.
“We achieved all three goals in FY2025.”
Seek also issued FY26 guidance of an adjusted profit, excluding fund returns and significant items, of about $190 million to $220 million, which represented growth of 32% from FY25 at the mid-point.
Seek (ASX: SEK) shares had risen $1.60 (6.23%) to $27.27 at the time of writing, capitalising the company at $9.74 billion.
