Enero Reports Double-digit Slump In Profit & Revenue

Enero Reports Double-digit Slump In Profit & Revenue
SHARE
THIS



Aussie-based marketing and communications conglomerate Enero Group has reported some very dour results for FY17, citing a “challenging” last 12 months.

The company witnessed a 26 per cent drop in net profit after tax to $4.9 million for the last financial year, with net revenue down 12 per cent to $100.2 million.

Enero’s expenses before interest, tax, depreciation and amortisation (EBITDA) fell 22 per cent to $10.4 million.

The group’s Aussie division, which includes agencies such as BMF, Naked, Frankie, Hotwire and The Leading Edge, saw a 6.7 per cent fall in revenue in FY17, while EBITDA was up 6.2 per cent to $7.0 million.

Enero CEO Matthew Melhuish said: “While it was a challenging trading year, an improvement in the second-half resulted in a full year operating margin of 10.4 per cent.

“We faced difficult UK trading conditions in the first half after the Brexit vote, with uncertainty affecting client confidence.

“We had some client losses and also encountered currency headwinds from the stronger Australian dollar, which impacted the Operating EBITDA line by $1.5 million on a constant currency basis.

“We continued to push hard to recover the year and also remained focussed on long-term value creation.

Melhuish said Enero’s recent acquisition of Eastwick Communications in the US and the release of capital restrictions in May gives the company more flexibility as it moves into the “re-imagined” stage of its strategic plan.

Please login with linkedin to comment

Advertising Standards Bureau Enero Group Perth

Latest News

Howatson+Company Nabs Colenso BBDO’s Levi Slavin For Chief Creative Officer Role
  • Advertising

Howatson+Company Nabs Colenso BBDO’s Levi Slavin For Chief Creative Officer Role

Levi Slavin, former CCO of Colenso BBDO, has been appointed Howatson+Company’s new chief creative officer following the sudden departure of Ant White in August. Slavin will join the Sydney-based agency in January. Chris Howatson (pictured below) commented: “Levi is a wonderful human being first, brilliant creative second. He is renowned for his empathy, his commitment […]

Spikes Asia Portraits
  • Marketing

Spikes Asia Appoints Jenny Lau As Events Director

Spikes Asia has announced the appointment of Jenny Lau as events director. Based in Singapore, Lau will take overall responsibility for Spikes Asia.  Lau (pictured) has worked within the Asia-Pacific advertising industry for more than 20 years and brings a deep understanding of the trends and issues affecting the regional advertising and marketing industry. Lau […]

ANZ Brands Top Pattern’s Best Practice Ranking Of Brands On Amazon.com.au
  • Media

ANZ Brands Top Pattern’s Best Practice Ranking Of Brands On Amazon.com.au

Global ecommerce and marketplace specialist Pattern has ranked a group of 50 brands selling on Amazon.com.au based on a set of best practice criteria it has developed. Pet brand Zenify topped the ranking in Pattern’s Amazon Australia Benchmarking Report, scoring 82 per cent of the possible marks against a set of criteria designed to measure […]

Fifth Dimension Expands Executive Leadership Team
  • Marketing

Fifth Dimension Expands Executive Leadership Team

Fifth Dimension Consulting has announced the expansion of its executive leadership team in response to the organisation’s significant growth over the last 18 months. Lyndall Spooner has moved from the position of managing director to the role of chief executive officer (CEO).  As CEO, she will lead Fifth Dimensions’ innovation arm, as well as the […]

GoDaddy Australia Launches GoDaddy Studios To Support Creative Content By Small Business
  • Marketing
  • Technology

GoDaddy Australia Launches GoDaddy Studios To Support Creative Content By Small Business

GoDaddy Inc. has today announced the Australian launch of GoDaddy Studio, a new content creation tool designed for small and medium businesses to create beautiful visual content for their business for all platforms. Compatible on both iOS and Android mobile apps and desktop, GoDaddy Studio includes thousands of customisable templates and easy-to-use tools, providing small […]

Seismic Announces New Zealand Partnerships To Empower Businesses And Workers
  • Technology

Seismic Announces New Zealand Partnerships To Empower Businesses And Workers

Seismic has announced an expanded New Zealand (NZ) presence to support the transformation of sales and marketing teams, and enable the nation’s employers to focus on upskilling their workforces to overcome a digital skills shortage. The company has also signed NZ-based specialist consultancies, Fresh Perspective Sales (FPS) and Jumping Fox Interactive, as its first two […]

Booktopia’s Alex Huntley On Partnering With SaaS Platform Freshworks And Tackling The Pandemic
  • Marketing

Booktopia’s Alex Huntley On Partnering With SaaS Platform Freshworks And Tackling The Pandemic

Alex Huntley, Booktopia’s head of customer experience, recently appeared at software company Freshworks’ recent digital CX summit RE:SOLVE. During the summit, Huntley shared his thoughts on future-proofing customer service architecture.Huntley sat down with B&T to discuss Booktopia’s partnership with Freshworks and how it has helped their platform develop. B&T: Why did Booktopia first decide to partner […]

Nestlé Oceania Adds The Edison Agency To Strategic Design Roster
  • Marketing

Nestlé Oceania Adds The Edison Agency To Strategic Design Roster

The Edison Agency has made four new appointments in its Sydney office to service the continued growth across key account The Arnott’s Group and the recent appointment to Nestlé Oceania’s strategic packaging design roster. Over the past 12 months, the culmination of strategic and creative work across the Uncle Toby’s brand and continued growth of […]