Enero reports revenue falls but profit improvement after a year of cuts

Marketing and communications network Enero – formerly the Photon Group – has reported a decline in revenue but an improvement in profits after cost cutting through most of 2017, the company reported in its half yearly results this afternoon.

The group’s net revenue fell 6.6% to $47.8 million, however earnings were up 17% to $5.7 million as a result of cutting costs, restructuring the US operation and closing Naked Communication’s London offices.

Enero CEO Matthew Melhuish: “A strong start to this financial year”

The US operation reported a 1.1% revenue improvement, while the UK operations fell 12.6% and Australia declined 5%.

The group, which includes BMF, Frank PR and Hotwire, also acquired independent creative technology agency Orchard Marketing last month.

In the announcement, Enero Group CEO Matthew Melhuish said: “We have ahead a strong start to this financial year, improving the margin and achieving increases in EBITDA and net profit.

“The acquisition of Orchard Marketing significantly strengthens our digital capabilities in Australia and the USA with Orchard not only operating as the Enero digital pillar brand, but also enhancing the digital capabilities across our other sectors.”

Enero’s announcement cheered investors with the company’s stock gaining over 6% during the day to finish at $1.08. Over the past year, the stock has traded between a $1.23 and $0.88. At the group’s peak in November 2007, it reached $4.77.


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