Enero reveals profits slump

Tim Burrowes

August 22, 2013 1:33

Enero – the remaining assets of the troubled Photon Group – saw another year of decline, figures released to the ASX today reveal.

According to the update, the company – whose agencies include BMF, Naked Communications, Hotwire, Frank PR and TLE – saw operating profits shrink from $13.9m to $3.5m.

Enero has been gradually closing or selling its unprofitable agencies. For those remaining within the business, revenues shrank from $148.6m to $125.6m.

The company also wrote down the value of its businesses by $75.9m.

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Tim Burrowes

Tim Burrowes is the publisher of Mumbrella and Unmade. He co-founded Mumbrella in 2008 and sister title Unmade in 2021. He's worked in the UK, Middle East, Asia & Australia and has specialised in writing about the communications world for the last 25 years. He wrote the book Media Unmade, published in 2021, and became the presenter of MediaLand on ABC Radio National in 2025.