Seek must be a rip-off

OK, this isn’t exactly cutting-edge business analysis, but stay with me. Employment website Seek makes a net profit after tax of $23.9M off revenue of $70M. That’s a markup above costs of nearly 52%.

So I figure they could drop their prices by a good 20% and still be making plenty more profit that the average quite-successful business, yeah? Hell, a computer shop only makes 6% to 8% when they sell you a laptop.

No wonder their share price is at a record high.