Photon to change name to Enero
Photon Group is set to to change its name to Enero Group, the company has informed the ASX.
Photon Group – which narrowly survived becoming overwhelmed by debt – owns several Australian agencies including BMF, BWM and Naked Communications.
Enero is the Spanish word for January. The company says the change marks “a fresh start for the reinvigorated company”.
The company has also announced what it describes as a “new strategic direction to create a more digitally centred global marketing services group”. It will be based on five main business units – BMF, Naked, PR agency Hotwire, Frank PR and research company The Leading Edge.
The company revealed that its profits have gone backwards in the first nine months of its financial year. Operating profits dropped from $43.5m to $16.7m. However this was in part driven by the company being much smaller after selling several agencies. But operating profits of the continuing businesses were down from $12.5m to $10.2m.
However, the company says it is now debt free, with $24m in cash and only $13.5m in payments remaining due over the next 12 months to people who sold agencies to the company.
The management of the company has now been through wholesale change. BMF co-founder Matthew Melhuish is now CEO while Austar founder John Porter has just become chairman.
In a presentation to the market, the company listed its ambtion as: “To be the most ‘lean forward’, digitally centred marketing services group in the world”.
It said its attributes would be to be
- Techno fluent;
- Data smart
- Social media savvy
- Globally connected
- Idea-tors
- Unique insights
Tim Burrowes founded Mumbrella in 2008. He worked on Mumbrella until 2021. At various points he was editor, content director and editor-at-large.
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https://www.youtube.com/watch?v=DCCuOLqwZv8
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I think any name that’s only two letters away from being “Enema” is not a good idea.
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‘Techno Fluent’ does that mean they are fans of The Prodigy?
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Different name, same bullshit
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Clearly they are now focussing on the big ticket items to turn this disaster around. Pathetic. Bad name anyway. What s Spanish for ‘we have no idea’.
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if you “lean forward” won’t you be digitally off-centre?
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A rose by any other name
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Nice name. Strangely, none of the existing businesses are digital pure plays, why make these kinds of comments to the market. So while they’re not exactly leaning forward right now, some acquisitions in Brazil could be interesting. I’ve worked with Brazil-based cos and they are as on track as the rest of the Americas.
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Logo should have been a floating rubber duck in a bath.
“Ducks ENERO”
Kind of catchy and without any consumer behavioural science mumbo jumbo.
Sounds like their new positioning statement is more a destination hopefully found than an offer they can claim to.
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For this business to successfully lean forward into a brilliant, techno fluent future, as an imperative first step, sack the language mutilating moron who came up with the nauseatingly trite term “idea-tor”. With twits like this aboard, is it any wonder Photon, err Enron, sorry Erection, I mean Enero has had such a Titanic-like run.
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Sheer wankery
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As the Third Law of Business Failure states:
“When all else fails, change the name (or pack design)“
No way back for this lot.
Didn’t they sell their digital, techno fluent, ideator assets???
Hopeless.
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