That is not necessarily true. Seek have a market advantage having obtained a dominant position. It depends how forward looking they are as a business and how they innovate around their own business model and with new services. That is not to say that others will not try and steal market share but if they are innovative they can become even stronger. Look at Google for example, why doesn't a firm improve on their approach?
The report looked pretty impressive to me, especially the growth offshore and more especially China. The disappointing bit was the slow down of profits forecast for next year and this is a no no for high firms on higher PEs, although this has already come down. Maybe the firm is trying to be more conservative with forecasts to avoid disappointments. Having said that it is a long back now to the $18 range.
SEK Price at posting:
$12.08 Sentiment: Buy Disclosure: Held
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