Brexit woes, currency shifts and client losses drive down Enero results

February 9, 2017 1:24

Communications group Enero has reported a 32% drop in earnings for the first six months of the year in the wake of Brexit in the UK as well being hit by a number of client losses, with net profit down 38% to $2.3m.

After a resurgent 2015/2016 financial year, results to December 31 saw net revenue drop 11% to $51.2m compared with the same period the previous year when revenue was reported at $57.6m.

Enero CEO Matthew Melhuish said the first six months had been difficult for the group but it was still in a strong position.

“The first half of this financial year was very challenging due to difficult UK trading conditions, post Brexit, currency headwinds from the stronger Australian dollar and some client losses,” Melhuish said.

Subscribe to keep reading

Join Mumbrella Pro to access the Mumbrella archive and read our premium analysis of everything under the media and marketing umbrella.

Simon Canning

Simon Canning was Mumbrella's marketing and advertising editor from 2015-2017. In a career spanning journalism and communications over more than 30 years Simon has become one of Australia’s most respected analysts and commentators on the advertising, marketing and media industries. A regular commentator on radio and TV, Simon has also worked in media in the US and UK .

Topics