How long have you held SEEK (SEK)?
We've owned SEEK for a long time. I believe we first invested in the company around 2006.
What do you like about it?
SEEK is the largest online global jobs marketplace by market cap and profitability. Domestically, SEEK is the job ad market. It accounts for approximately 70% of job ads and facilitated approximately 26% of job placements in F13 (placing approximately eight times more jobs than their nearest competitor). While the domestic business doesn't have the tailwinds of growth that it used to, SEEK's international investment portfolio should provide similar levels of growth into the future. Compared with the other online companies in Australia, SEEK started its move offshore quite some time ago, and it looks to be bearing fruit.