Why is ARN’s boss so optimistic about the company’s future?
ARN’s revenue is falling, and it only managed to turn a $800,000 profit (NPAT) in the first six months of the year. The company has the country’s two highest-paid entertainers on the books, who are also partly responsible for the downturn in advertising.
Yet, Ciaran Davis, ARN’s chief executive officer, tells Mumbrella he is optimistic about the future of the business.
“Absolutely”, he answers, after coming off an investor call in which the term “reset” and “transitional” were used roughly eight million times.
The ARN share price looks like a plane making an emergency landing after flying through a storm.
SCA & Nova must be loving watching this slow motion trainwreck.