Enero Group posts nine per cent decrease in net revenue

The Enero Group has posted a nine per cent decrease in net revenue from $61.6m to $56.2m in its half yearly results for the six months ended December 31, 2014.

The group’s EBITDA – earnings before interest, depreciation, taxation and amortisation – was also down by 8 per cent down from $5m to $4.6m. This was despite a drop in employee expenses from $45.405m to $41.173m and a drop in operating expenses from $53.277m to $48.018m.

The half-yearly results for the group, which owns agencies including BMF, Naked Communications and The Leading Edge, were released quietly last week to the Australian Securities Exchange and show it recorded a profit of $974,000 for the six months ended December 31.

The results show the net revenue contribution to the group from its Australia, New Zealand and Asian operations was 52 per cent, consistent with the half yearly results in the 2014 financial year. UK and Europe account for 37 per cent while the USA makes up the remaining 11 per cent, with revenues there down 27 per cent for the six months.