First Impressions on Seek (SEK) - FY15 NPAT in line but FY16e net profit guidance below consensus
Seek's divisional Performance: Domestic revenue up 14% to $273.2m and EBITDA up 6% to $154.2m; EBITDA margin 56%, International revenue up 30% to $501.3m and EBITDA up 45% to $164.5m, Education revenue down 38% to $81.2m and EBITDA down 37% to $32.5m, EBITDA margin 40%. The outlook statement points to solid revenue growth BUT soft NPAT momentum due to cost investment, FX and interest costs. Read our full summary here: (VIEW LINK)
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Bell Potter Securities is a leading Australian stockbroking, investment and financial advisory firm that provides a comprehensive offering of financial services to a diversified client base that includes individuals, institutions and corporations.