Currency challenges and Brexit keep Enero outlook cautious

October 18, 2016 2:39

After posting its healthiest annual results in years and cementing its first agency acquisition in seven years, Enero has revealed a first quarter hit by currency fluctuations and the impact of the Brexit vote.

Melhuish: Despite the currency fluctuations, Enero will “focus on the things we can control”

Announcing its Q1 2017 financial year update, Enero chairman John Porter said the group faced “significant headwinds” from the currency exchange shift and the general downturn in UK economic confidence.

Net revenue for the group dropped 14% from $24.7 while operating EBITDA was $2.2m, down 40% on the year before.

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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 .

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