Enero reports profit and revenue jump on strong Australian and US results

Local holding company Enero Group has announced another revenue and profit surge in its half year results.

Enero, the holding company of BMF, Naked, Hotwire and The Leading Edge, reported net revenue in the last six months of 2018 was up 33% on the previous year to $63.7m while EBITDA rose 75% to $10.0m.

Enero Group CEO Matthew Melhuish: ““We have made a great start to FY2019”

The company’s Australian revenues, which made up nearly half the group’s income, were up 45.2% to $30.4m while the US jumped 45.9% to $14.1m. UK and European operations were relatively sedate, only gaining 12.0% to $19.2m.

Results of the individual operating arms were not broken out in the ASX announcement.

Enero Group CEO, Matthew Melhuish said: “We have made a great start to FY2019 with strong numbers across all our key financial metrics in all markets.

“Most pleasing was the achievement of 15% organic revenue growth, excluding the impact of acquisitions, along with the number of new client wins in the first half.

“We continue to build digital and data capabilities across our pillars and we remain ready to invest further through acquisitions in our international network, already representing over half of the Group, where larger growth opportunities exist.”

Along with the results announcement, the company unveiled new branding and a revamped logo.

Enero – the Spanish word for January – was formerly known as Photon Group.

The company changed its name in 2012 after narrowly avoiding becoming overwhelmed by debt.

Enero was one of the few stars in listed ASX media and marketing stocks in 2018, gaining 11.6% against a generally falling market.

Following the results, the directors declared a fully franked interim dividend of 2.5 cents per share. Enero’s share price remained steady at $1.28.


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