Seek Limited (AU:SEK) has released an update.
SEEK Limited has revamped its financial reporting structure to better represent its business management, coinciding with the sale of its Latin American assets to Red Arbor Holding. The new reporting will distinguish between revenues from employment marketplaces in ANZ and Asia and corporate overhead costs, with significant investments like the SEEK Growth Fund being equity accounted. This strategic move includes a cash consideration of US$85 million from the sale, aiming to streamline SEEK’s operations and focus on core marketplaces.
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