'Tough' market sees Enero revenues tumble

'Tough' market sees Enero revenues tumble

Enero has had a “tough half financially” seeing revenues slide and reporting a loss of $77m for the first half of the financial year as the company continues to restructure

CEO Matthew Melhuish cited “difficult trading conditions” and BMF’s loss of the Commonwealth Bank account, as well as Naked’s struggle in Europe in particular, as reasons for the drop.

He said: “Although it has been a tough half financially we have taken many positive steps  over the past six months to improve our operating structure and processes and strengthen the foundations of the group.

“We have secured some extremely talented individuals in leadership roles, we have achieved new levels of cross collaboration between our operating companies and have embraced new ways of doing business to bring the group together.”

Like-for-like revenues slipped $9m in the first six months to $66.1m, with earnings before interest, tax, depreciation or amortization down from $7.4m to $2.2m, now standing at a third of last year.

Last year the group allowed creative agency BWM to become independent again, and also divested a number of other businesses, as it looked to stem the losses of previous years.

It also announced a $2m restructure and training program for Naked, which t says will be funded from future earnings.




Please login with linkedin to comment

Latest News

It’s Friday Quiz Time Again!
  • Media

It’s Friday Quiz Time Again!

Take B&T's trivia quiz for your chance to win a $100 booze voucher and possible cirrhosis of a major internal organ.

by B&T Magazine

B&T Magazine
Big data technology and data science illustration. Data flow concept. Querying, analysing, visualizing complex information. Neural network for artificial intelligence. Data mining. Business analytics.
  • Marketing

SenateSHJ Launches New Trans-Tasman Practices

SenateSHJ has launched a new digital, data and insights capability designed to help clients tackle the growing complexity of communication challenges. SenateSHJ Digital, Data and Insights (DDI) will combine the firm’s existing Digital and Insights functions to create a Trans-Tasman capability focused on digital communication, and the generation and use of data to improve communication. […]

New BrandStory Format From Bonzai Allows 3x More Ad Space on Mobile
  • Media

New BrandStory Format From Bonzai Allows 3x More Ad Space on Mobile

Creative technology platform Bonzai has announced the launch of BrandStory – a new premium mobile ad format. BrandStory offers triple the ad space and 2.8 times greater time in view than single scroll ad formats, addressing the surging demand from brands worldwide for more real estate to drive real results by seamlessly intertwining awareness, exploration […]

B&T’s Search For Australia’s Greatest Ad Heads To Channel 7
  • Advertising

B&T’s Search For Australia’s Greatest Ad Heads To Channel 7

B&T went through the looking glass this morning, with editor-in-chief David Hovenden (above) appearing on Channel 7’s The Morning Show to get the general public involved in our search for Australia’s Greatest Ad. Hovenden chatted with Kylie Gillies and stand-in host Matt Doran about what makes a great ad and showcasing some of our favourites […]

by B&T Magazine

B&T Magazine
Opinion: The Tall Planner’s Kate Smither On The DBA Dilemma
  • Opinion

Opinion: The Tall Planner’s Kate Smither On The DBA Dilemma

The science is not in question – smarter people than I, with far more data, have codified it. The logic is not up for grabs…it makes sense that creating mental shortcuts to your brand keeps you at the top of your mind. Lead image: Kate Smither – Owner, The Tall Planner I wouldn’t even take […]

Opinion

by B&T Magazine

B&T Magazine
African woman using a cellphone in an office alone
  • Marketing

Ortto & Tall Bob Partner To Deliver Better SMS & MMS For Australian & NZ Businesses

Two Australian-born technology providers have joined forces to bring more power and choice to marketers in Australia and New Zealand with mobile messaging that is more local, cost-effective, and integrated. It’s a partnership that sees two Australian software companies come together to deliver a world-class mobile-first solution for marketers building data-driven, personalised, omnichannel campaigns. While […]

Slew Of New Hires At Snap Inc.
  • Media

Slew Of New Hires At Snap Inc.

Snap Inc. has announced a number of new recruits. B&T unaware if it positively impacted SEEK's share price.

Reddit Gets Playful Brand Refresh
  • Technology

Reddit Gets Playful Brand Refresh

This will be of interest to any Reddit fans, graphic designers or lovers of an orange so bright it burns the retinas.

Zitcha & Broadsign Partner To Drive Global In-Store Retail Media Market
  • Advertising

Zitcha & Broadsign Partner To Drive Global In-Store Retail Media Market

Zitcha and Broadsign have teamed up to integrate the Broadsign out-of-home (OOH) advertising platform with Zitcha’s retail media platform. The collaboration empowers retailers to maximise and monetise in-store digital display networks and enables advertising partners to easily view and book available in-store inventory and review campaign performance alongside the retailer’s other media channels. With the […]

Double Rainbouu & 7-Eleven Launch Exclusive Summer Fashion Label
  • Marketing

Double Rainbouu & 7-Eleven Launch Exclusive Summer Fashion Label

Today, 7-Eleven has announced a one-of-a-kind collaboration with the popular Sydney-based anti-resort wear label Double Rainbouu. Dropping tomorrow, December 1, just in time for summer, this limited-edition capsule will infuse the fashion brand’s rebellious spirit with a distinctly iconic 7-Eleven flavour. The unisex collection features five must-have styles comprising two signature Hawaiian shirts, a peaked cap, a bucket hat […]