SEEK Limited has reported a full-year loss after tax of $371.3 million for FY2026, a dramatic swing from the prior year’s profit of $245.2 million, primarily driven by a $201.2 million loss from its SEEK Growth Fund and significant accounting charges related to portfolio impairments, notably the Zhaopin platform. While the headline loss figure may alarm investors, the underlying operational performance tells a different story, with adjusted profit from continuing operations reaching $199.1 million, up from $155.2 million in the prior year.
The reported loss reflects the accounting treatment of SEEK’s venture investments rather than a deterioration in core operations. The SEEK Growth Fund, which holds the company’s portfolio of growth-stage businesses, recorded a loss of $201.2 million compared to a loss of $304.4 million in the prior year, indicating improving portfolio performance despite continued valuation pressures. The significant impairment of Zhaopin, SEEK’s Chinese recruitment platform, represents a substantial non-cash charge that meaningfully impacted the statutory result. These accounting items are excluded from adjusted profit calculations, which better reflect the performance of SEEK’s ongoing commercial operations.
Revenue performance during the year provides context for understanding the results. Net revenue from continuing operations reached $1,198.9 million compared to $1,090.4 million in the prior year, reflecting a full year of results from Sidekicker following its reacquisition in May 2025. Sidekicker, the contingent labour platform, contributed meaningfully to total sales revenue of $1,284.2 million for the year. The normalization of Sidekicker into full-year results represents a significant operational change compared to the prior year, when only one month of contributions were included.
On capital management, SEEK has maintained its dividend commitment despite the reported loss. The company is paying a 2026 interim dividend of 22.0 cents per share and has determined a final dividend of 22.0 cents per share, both fully franked. This decision reflects board confidence in the underlying cash generation of the business and suggests that management views the current loss as a temporary accounting impact rather than a structural deterioration in profitability.
Net tangible assets per share declined to 131.6 cents at 30 June 2026 from 594.5 cents in the prior year, a consequence of the Growth Fund impairments and balance sheet restatement. Investors should monitor whether SEEK’s growth investments begin to recover in value or whether additional impairments may be required. The company’s ability to generate improved returns from its adjusted operations while managing portfolio challenges will be critical to restoring investor confidence and supporting future capital allocation decisions. This announcement is price sensitive and has been flagged as material by the ASX.
View the full ASX announcement (PDF)
About SEEK Limited (ASX: SEK)
SEEK Limited is an Australian online employment marketplace company that operates job advertisement services across multiple countries including Australia, New Zealand, Southeast Asia, Hong Kong, the United Kingdom, and Europe. The company provides employment platforms under the SEEK, Jobstreet, and Jobsdb brand names. SEEK is headquartered in Cremorne, Australia and connects job seekers with employers across its various markets.
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