Jobs website SEEK has recorded a slight increase in advertisements since the start of the financial year.
Jobs website SEEK says it has experienced a slight increase in advertisements in the past few months, which could see it deliver a stronger than expected earnings result this financial year.
SEEK had been experiencing a flat to gentle decline in the number of job ads posted on its websites each month leading up to the end of June 2013.
But chief executive Andrew Bassat said the company had recorded an improvement in recent months.
“Based on the first four months of the financial year, we are observing improving trends with flat to gentle increases in ad volumes on a month-on-month basis,” he said.
That’s good news for job seekers, with the unemployment rate currently sitting at 5.7 per cent and many economists expecting it to push above six per cent next year.
Mr Bassat said a continued improvement in job ads could lead the company to upgrade its earnings forecast for the 2013/14 financial year.
The company had previously forecast growth on its 2012/13 revenue, earnings and underlying profit, which was $141 million.
SEEK shares gained 73 cents, or 5.9 per cent, to $13.13.
Meanwhile, SEEK also announced plans to float its international student recruitment business IDP Education in 2014.
The recruitment business is 50 per cent owned by SEEK, with the rest of the ownership spread across 38 Australian universities.
IDP chief executive Andrew Thompson said an initial public offering (IPO) would set the business up for future growth.
“The IPO will provide a more flexible capital structure for future growth and provide IDP shareholders an opportunity to realise a portion of their investment in the company.”