Aussie-based marketing and communications conglomerate Enero has remarkably rebounded from its dour FY17 results with a triple-digit jump in profit.
The company’s statutory net profit after tax (NPAT) attributable to equity holders and excluding significant items was $8.5 million for the 12 months to 30 June 2018 – up a whopping 372.2 per cent on the previous fiscal year.
Including significant items, Enero’s NPAT was still up 61.2 per cent to $7.9 million.
Net revenue saw a modest increase of 3.5 per cent for the company to $103.7 million for FY18.
Its Australian operations – which include agencies BMF, Hotwire, Naked and Orchard – were the biggest driver of revenue growth with 12.4 per cent to hold just under half of Enero’s entire revenue.
The company’s earnings before interest, taxes, depreciation and amortisation (EBITDA) rose 29.8 per cent, with the EBITDA for its local division growing 27.1 per cent to account for 8.9 per cent overall.
Commenting on the results, Enero CEO Matthew Melhuish (pictured above) said FY18 was a strategic step forward in the group’s strategic ambitions.
“Increases in key financial metrics of revenue, operating EBITDA and revenue, coupled with the acquisition of Orchard Marketing during the year, sets up the group for a successful year ahead,” he said.
“Orchard Marketing has enhanced the group’s digital capabilities in both Australia and the USA, and is our key business in our digital pillar. Strong growth in our USA market businesses is rebalancing the geographic contributions of our key hubs.”
Melhuish said Enero remains open to further acquisitions to “either enhance geographic presence in our hubs or expand services in key businesses”.