Original article by Max Mason
The Australian Financial Review – Page: 11 & 14 : 7-Aug-18

Shares in employment classifieds and services company SEEK fell by 8.8 per cent on 6 August, after it announced a profit downgrade and writedown. SEEK will write down $178 million on its investments in Mexico and Brazil, while its expects its 2018-19 net profit after tax to be around the $200 million result it achieved in 2017-18. A survey of analysts by Bloomberg had forecast a 2018-19 result of $240 million. SEEK CEO Andrew Bassat notes that it is reinvesting revenue in preference to targeting profit growth; SEEK expects its 2018-19 revenue to grow by between 16 and 20 per cent.

CORPORATES
SEEK LIMITED – ASX SEK, BLOOMBERG LP, MACQUARIE GROUP LIMITED – ASX MQG, UBS HOLDINGS PTY LTD, ZHAOPIN LIMITED