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Enero Revenue and Profit Decline
The Enero Group, parent of Australian-based MR agencies The Leading Edge and Jigsaw Research, has reported net revenue down 9 percent to $AUD 56.2m for the half year to December 31st 2014; and profits down also with EBITDA falling 8 percent to $AUD 4.6m.
 The profit fall came despite cuts in employee expenses, down 9% to $41.23m, and operating expenses, down 10% to $48.0m. The group also owns ad agencies BMF and Naked Communications.
Enero says The Leading Edge 'has good momentum in both Australia and UK and is improving'; and that its more settled Australian teams have notched up good business wins and improved their share of group EBITDA to 53% from 31% last year. Australia, NZ and Asia make up just over half the group's revenues (52%) with Europe 37% and the US, where revenues dropped more than a quarter, contributes 11%.
The group changed its name from Photon in 2012 following a massive restructure to reduce debts which at one time stood at $AUD 450m. Since 2012, the group's revenue has continued to tumble, although its profitability as measured by EBITDA has rebounded slightly.
Jigsaw recently appointed John Matthews as Managing Director.
Web site: www.enero.com .
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