JobStreet parent posts 25% revenue jump in H1 FY23

Photo credit: SLA Group

Seek Asia, the parent company of online portals JobsDB and JobStreet, logged a revenue of US$82.5 million in the first half of its 2023 financial year, up 25% from the same period in FY22.

The growth was attributed to a bump in average paid ad yield by 22% and job ad volumes by 1% from the previous financial year. Seek Asia said the increases were due to a boost in adoption and price hikes across the region.

The company also recorded a year-on-year EBITDA growth of 89% to US$32 million for the period. Meanwhile, profit margin landed at 39%.

Seek Asia, which is part of Australia-based Seek Limited, operates in six countries: Hong Kong, Malaysia, Singapore, Indonesia, Thailand, and the Philippines.

It recorded a year-on-year increase in monthly active users in H1 FY23 by 6%, with monthly candidate applications up 18% from the previous financial year. Meanwhile, its monthly unique hirers rose 17% over the same period.

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