One of the largest workforce solutions company, SEEK Limited (ASX:SEK) provided FY20 trading update-
- SEK disclosed that improvement in billing trends was observed across SEEK ANZ, SEEK Asia and Zhaopin.
- Aggregate Non-cash impairment charge in the range of A$190-A$230 million anticipated to be recognized.
- Senior syndicated debt facility increased to June 2021 via key covenant limits.
Moreover, the Company mentioned while near-term profitability has been impacted by the COVID-19 pandemic, its largest businesses remain highly defensible and well placed to capitalise on large opportunity set.
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