Seek, the Australian job board, published a brief trading update and revision to revenue guidance today.

The group said that based on its trading momentum for the third quarter, revenue for the full year may be slightly lower than assumed in its previous guidance (approximately AUD 15 million (USD 10.1 million) lower) due to continued moderation of job ad volumes.

However, at this stage Seek expects this lower full year revenue to be offset by lower than assumed operating expenditure.

Full year 2023 revenue is forecasted to be approximately AUD 1.245 billion (USD 840.9 million), down from the previous forecast published on February 2023 of AUD 1.26 billion (USD 851.0 million).

Seek affirmed its EBITDA forecast of approximately AUD 560 million (USD 378.2 million) and net profit after tax of approximately AUD 250 million (USD 168.8 million).

The company also published its Investor Day presentation today. Seek said with focus on growing placements and optimising yield, it has an AUD 2 billion (USD 1.35 billion) revenue opportunity by FY 2028.

Seek added that it expects strong revenue growth in Asia from 2023 to 2028. Meanwhile, performance in its Latin American businesses is strengthening and the group maintains options in attractive North-East Asian markets.

Seek shares closed at AUD 23.98 (USD 16.20), down 0.95% on the day and 27.69% above the 52-week low of AUD 18.78 (USD 12.68) set on 3 October 2022. The company has a market cap of AUD 8.59 billion (USD 5.80 billion).