Enero Group sees revenue drop and losses mount in challenging market

Enero Group, parent group of BMF, Orchard, OBMedia, and Hotwire, has delivered a challenging report card for the first half of the financial year.

For H1 FY24, Enero Group increased its EBITDA by 6% on a like-for-like basis, with its Technology, Healthcare, and Consumer Practice division – which includes agencies the Hotwire Group, Orchard, and BMF – delivering EBITDA growth of 8%.

However, the reality of the situation is far less rosy, with revenue down 22.4%, earnings down 48.2%, and net profit before tax down 56.7%.