Salmat Returns To Profit Despite Revenue Drop

Salmat Returns To Profit Despite Revenue Drop
B&T Magazine
By B&T Magazine
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ASX-listed marketing company Salmat is back in the black after reporting a $4.3 million profit for the last financial year.

The result is a big turnaround from the $6 million loss it posted in FY16, while Salmat’s revenue was down slightly (by 3.4 per cent, to be exact) to $435.3 million.

The company’s expenses before interest, tax, depreciation and amortisation was 16.3 per cent to $22.8 million for the 12 months to 30 June 2017.

Salmat CEO Rebecca Lowde (pictured above) said the return to full-year profit is a significant milestone for the company.

“While revenue was down this year, we have been able to do more with that revenue, growing both earnings and net profit. We are also generating more cash from operations,” she said.

“These full-year results are a testament to the work we’ve done to transform Salmat’s business operations, but we remain mindful of the ongoing challenges of the current economic landscape.

“We are setting plans in place to address these market challenges, innovate Salmat’s service capabilities and grow new business.”

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