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Shares in SEEK Limited (ASX:SEK) have soared in morning trade after posting a record first half profit and announcing an acquisition to facilitate its expansion into Asia.
The online job classifieds site and education group improved its net profit by 65 per cent to $111.2 million in the last six months of 2013.
The result was aided by the sale of its interest in the THINK business. Excluding significant items SEEK’s underlying net profit grew 29 per cent.
CEO Andrew Bassat has forecast the company’s second-half net profit after tax to be marginally greater than today’s record interim result.
SEEK has also announced today it will purchase the remaining $580 million interest in Asian online employment firm JobStreet that it does not already own.
An interim dividend of 14 cents per share has been declared.
Shares in SEEK had gained 13.3 per cent in morning trade to $15.10.
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