Employment surge turns up heat on rates

Original article by Tom Dusevic
The Australian – Page: 4 : 6-Jul-21

Further indications that the Australian economy is continuing to strengthen may prompt the Reserve Bank to increase the cash rate earlier than expected. There was three per cent growth in job advertisements during June, according to data from the ANZ Bank, and the number of job ads is now 39.1 per cent higher than pre-pandemic levels. Meanwhile, revised data from the Australian Bureau of Statistics shows that retail spending increased by 0.4 per cent in May and 7.7 per cent over the year to May. The COVID-19 lockdown in Greater Sydney is tipped to hit retail sales for June, although economists expect any impact to be short-lived.

CORPORATES
RESERVE BANK OF AUSTRALIA, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, AUSTRALIAN BUREAU OF STATISTICS

Labor demands coronavirus supports remain as figures show 13 jobseekers per vacancy

Original article by Paul Karp
The Guardian Australia – Page: Online : 13-Jul-20

Prime Minister Scott Morrison claimed on 10 July that Labor was scaremongering over the future of the $70 billion JobKeeper program. He said he had made it clear that there would be a further stage of income support, and that it was "disgraceful" and "blatantly untrue" for Labor to claim the government was going to end the program in September. Federal Labor leader Anthony Albanese responded to Morrison’s comments on 12 July by stating that businesses still had no certainty about whether the program will continue, while Labor says figures that reveal there are 13 jobseekers per job vacancy show that the government must keep COVID-19 income support programs in place beyond September.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY

Coronavirus data shows job advertisements in freefall

Original article by Catherine Hanrahan
abc.net.au – Page: Online : 9-Apr-20

Data from job listings group Seek shows that the number of job advertisements has declined by 65 per cent year-on-year due to the coronavirus pandemic. New South Wales has recorded a 72 per cent fall in job listings, ahead of Victoria with a 67 per cent decline. The sport and recreation sector has been the hardest hit, recording a 98 per cent decline in job advertisements. In contrast, job ads in the mining, resources and energy sector have fallen by just 30 per cent.

CORPORATES
SEEK LIMITED – ASX SEK

SEEK warns of flat profits, seeks loyalty

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

SEEK buy-out of News Corp from Asia arm makes sense

Original article by Max Mason
The Australian Financial Review – Page: 15 : 6-Mar-18

Online jobs advertiser SEEK will pay $A157 million to buy News Corp’s 13.75 per cent stake in its Asian business. SEEK CEO Andrew Bassat says News Corp had been a "great partner", and that moving to 100 per cent ownership of SEEK Asia "just made sense". SEEK will use existing debt facilities to fund the transaction, which is due to be completed by 16 March. SEEK had revenue of $A620.3 million for the first half 2017-18, of which its international businesses contributed $A340.1 million.

CORPORATES
SEEK LIMITED – ASX SEK, SEEK ASIA, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS

SEEK’s reinvestment delivers record revenue

Original article by Yolanda Redrup
The Australian Financial Review – Page: 15 : 20-Feb-18

Online job advertisements group SEEK has posted a 2017-18 interim underlying net profit of $A112.1m, which is 21 per cent higher than previously. It has advised that full-year profit is expected to be at the higher end of its previous forecast of $A225m to $A230m. Group revenue for the first half rose by 27 per cent to a record $A628m; its Australia and New Zealand division’s revenue rose 15 per cent and its international unit’s revenue was up 10 per cent. Shareholders will receive an interim dividend of $A0.24 per share.

CORPORATES
SEEK LIMITED – ASX SEK, BRASIL ONLINE HOLDINGS, ONLINE CAREER CENTER MEXICO SA DE CV

More workers wanted as world demand for resources grows

Original article by Rachel Baxendale
The Australian – Page: 2 : 9-Oct-17

Job advertising site Indeed has reported an 84 per increase in jobs for "fly-in, fly-out" workers compared with 2016. Western Australia is the most popular state for FIFO jobs, with 45 per cent of adverts, followed by Queensland, the Northern Territory and South Australia. The surge in jobs for FIFO workers can be attributed to a number of factors, including restrictions on visas for overseas workers and an improvement in commodity prices.

CORPORATES
INDEED INCORPORATED

Digital classifieds under the pump

Original article by Stewart Oldfield
The Australian Financial Review – Page: 24 : 3-May-17

Deutsche Bank estimates that based on forecast earnings for 2018, online classified advertising companies REA Group, Seek and Carsales are trading at a 70 per cent premium to the broader industrial sector. However, while rising share prices have seen their combined market capitalisation top $A17bn, the three dominant players in real estate, jobs and automotive classifieds face potential headwinds, including competition from new and established rivals and a growing threat from social media companies such as Facebook.

CORPORATES
REA GROUP LIMITED – ASX REA, SEEK LEARNING PTY LTD, CARSALES.COM LIMITED – ASX CAR, DEUTSCHE BANK AG, FACEBOOK INCORPORATED, MORGANS FINANCIAL LIMITED, DOMAIN.COM.AU, FAIRFAX MEDIA LIMITED – ASX FXJ, COX AUTOMOTIVE, AUTOTRADER, CARSGUIDE, MORGAN STANLEY AUSTRALIA LIMITED, MAVERICK STRATEGIES, CITIGROUP PTY LTD, MONSTER WORLDWIDE INCORPORATED, INDEED INCORPORATED, CAREERBUILDER, RANDSTAD HOLDINGS NV

SEEK flags aggressive reinvestment, acquisitions

Original article by Max Mason
The Australian Financial Review – Page: 13 & 16 : 23-Aug-16

Australian-listed SEEK has posted a 2015-16 net profit of $A357m, which is 27 per cent higher than previously. However, this was boosted by the sale of a 50 per cent stake in IDP Education, and SEEK’s underlying profit rose by three per cent to $A198.1m. EBITDA was five per cent higher than previously at $A366.7, and group revenue increased by 11 per cent to $A950.4m. Shareholders will receive a final dividend of $A0.19 per share.

CORPORATES
SEEK LIMITED – ASX SEK, IDP EDUCATION LIMITED – ASX IEL, HYPERION ASSET MANAGEMENT LIMITED, MACQUARIE GROUP LIMITED – ASX MQG, SIDEKICKER, WORKANA, NIMBLE SOFTWARE SYSTEMS, JORA, JOBADDER, ZHAOPIN LIMITED

SEEK invests in online sidekick for temp staff

Original article by Max Mason
The Australian Financial Review – Page: 37 : 4-Jul-16

Australian-listed SEEK has acquired a stake in Sidekicker, a start-up that enables businesses to hire temporary staff at short notice. The online marketplace was founded in 2012, and now offers a database of some 3,000 temporary workers. SEEK’s Michael Ilczynski stresses that the types of positions that are advertised on Sidekicker are rarely advertised on his company’s website.

CORPORATES
SEEK LIMITED – ASX SEK, SIDEKICKER, NIMBLE SOFTWARE SYSTEMS