Seek (SEK) share prices rises on result
Seek (SEK) +5.13%
A volatile session for SEK today following their full year earnings release this morning – the stock trading down as low at $18.41 only to recover strongly as they provided more commentary on the numbers. On most metrics the result was a miss for FY19 however the miss was explained by reinvestment for future growth which was supported by more upbeat guidance for FY20 - the company expecting revenue to increase by 15 to 18% (mkt was at +14% revenue growth) with EBITDA expected to increase by 8-11% (mkt was at +9.8%). It’s all about growth for SEK and today they reduced their dividend guidance for FY20 to reinvest further into the business which should drive the improved revenue line in FY20. A business growing sales at 16.5% trading on 32x is hardly cheap but they have a v ’good track record of delivering.
Seek (SEK) chart
