Seeking better results?
SEEK (ASX:SEK) is a top ten holding in both The Montgomery Fund and The Montgomery [Private] Fund so we are pleased to hear, through the company’s latest update, that the business is performing ‘strongly’.
At the AGM today, Chief Executive Andrew Bassat told shareholders to expect guidance for 2015 – outlined in August – to be maintained.
It was added that revenue for the financial year to date is slightly ahead of internal expectations, in other words; above budget.
Whether we can put too much store in the subtle change, we note that in August when the company announced its 2014 results the guidance was for “solid” growth in 2015. Today the company said it expects “strong” growth in revenues.
More specifically the company noted that revenue would grow more than EBITDA, and EBITDA would grow more than NPAT. The company’s expenses are also growing and it was noted that “To support the strategy, Seek is continuing to invest aggressively to capture the exciting opportunities it presents.”
Roger Montgomery is the Founder and Chairman of Montgomery Investment Management. Roger has over three decades of experience in funds management and related activities, including equities analysis, equity and derivatives strategy, trading and stockbroking. Prior to establishing Montgomery, Roger held positions at Ord Minnett Jardine Fleming, BT (Australia) Limited and Merrill Lynch.
This post was contributed by a representative of Montgomery Investment Management Pty Limited (AFSL No. 354564). The principal purpose of this post is to provide factual information and not provide financial product advice. Additionally, the information provided is not intended to provide any recommendation or opinion about any financial product. Any commentary and statements of opinion however may contain general advice only that is prepared without taking into account your personal objectives, financial circumstances or needs. Because of this, before acting on any of the information provided, you should always consider its appropriateness in light of your personal objectives, financial circumstances and needs and should consider seeking independent advice from a financial advisor if necessary before making any decisions. This post specifically excludes personal advice.
margaret garrard
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Hi Roger, RCR’s share price has come off over 30% since Sep, this seems at odds with what the fundamentals indicate, or is there something below the surface of this “diamond in the rough”?