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Online employment advertiser Seek Ltd has reporting a dwindling of profits for the 2008-09 financial year.

Seek’s net profit slumped 28 percent to $55.3 million, down from $76.3 million on the previous year.

Putting a positive spin on the results, Seek chief executive Paul Bassat said that despite a challenging employment environment, “the business fundamentals of Seek remain strong.”

Bassat said that the downturn has actually led to a more job ads being placed online as opposed to print, and the company achieved a record 3.27 million unique browsers in July, accounting for almost eight out of every 10 minutes Australians spend searching for jobs online.

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Jessica Stanic

Jessica Stanic

Jessica has a background in both marketing and journalism and is dedicated to making the website the leading online resource for small to medium businesses with ambitions to grow.

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