Record profits for SEEK

Jobs website SEEK, set up by brothers Andrew and Paul Basset, has today posted record first-half profits of $60.6 million.

The website has established itself as the most popular in Australia and New Zealand, with 14.7 million hits in January alone.

It was co-founded by brothers Paul and Andrew Bassat – one of the most successful partnerships in Australian digital media and members of 'The Backers' in The Power Index's Digital Media power list.

SEEK has three main businesses: the jobs listing website, offering teaching courses and student recruitment, and an international set-up that looks after SEEK's offshore ventures.

In a statement, Andrew said: "Despite likely continuation of volatility in macro-economic conditions, we expect SEEK to outperform its online and print peers given its market-leading position and exposure to favourable long-term structural trends."

SEEK's net profit for the six months to December 31 was up 27 per cent, from $47.9 million in the previous corresponding period.