AGM - Chairman's address to Shareholders
Throughout the year many of our key markets saw a gradual slowing in macro-economic conditions. Despite these subdued conditions, the Group delivered strong financial results, with Revenue growth of 18% and EBITDA growth of 6% over the prior year. EBITDA growth was lower than revenue growth due to continued investment particularly in the growth of Zhaopin, OES and our Early Stage Ventures. Group cash flows remain strong and supported investment in product and technology and M&A, and we also paid fully franked total dividends of 46 cents per share in line with the prior year.
Our operating metrics and strong financial results in softer market conditions give us confidence that we have the right long-term strategy. Continued investment in product and technology, our investments in Early Stage Ventures, and our focus on building market share over short-term profitability will position the Group well for the future, despite the global competitors we face in many markets.
As I look out over the coming years, I am excited by the opportunities available to the Group, many of which Andrew will discuss during his presentation. I am very confident that if we execute well we will continue to deliver on our purpose and will generate strong returns for shareholders over the medium to long-term.
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About SEEK Limited
SEEK Limited (ASX:SEK) (OTCMKTS:SKLTY) is a diverse group of companies, comprised of a strong portfolio of online employment, educational, commercial and volunteer businesses. SEEK operates across 18 countries with exposure to over 2.9 billion people and approximately 26 per cent of GDP. SEEK makes a positive contribution to people's lives on a global scale. SEEK is listed on the Australian Securities Exchange, where it is a top 100 company with a market capitalisation close to A$6billion and has been listed in the Top 20 Most Innovative Companies Globally by Forbes, and Number One in Australia.