Enero, which owns the Naked and BMF agencies and PR house Hotwire, has reported a boost in group net revenue but its Australasian business has seen revenue drop.
Group net revenue for the year ending 30 June increased 2.9% to $113.5 million. Operating earnings before interest, taxes, depreciation and amortisation (EBITDA) was $13.2 million, a boost of 43.5% on the prior year results.
Enero's Australasian business saw net revenue fall 13.9% to $46.0 million for the full year ending 30 June 2016, however its operating EBTIDA jumped 1.5% to $6.6 million year on year.
Businesses under its umbrella include Naked, BMF, The Leading Edge, Precinct, Frank PR and Hotwire.
It notes that within the business, BMF has been performing well, retaining and winning a number of clients, but that smaller agencies under its umbrella continue to face difficult trading conditions and have had mixed results.
Enero Group CEO, Matthew Melhuish said: “We have delivered revenue, Operating EBITDA and margin growth
this year which is a result of the focus around new business conversion and sensibly managing our cost base.
“Despite more uncertainty in trading conditions, our bigger businesses continue to lead the way for the Group and
our international market exposure in the UK, Europe and USA provides more diverse revenue opportunities.”
For its UK and Europe business, net revenue increased 6.7% to $51.2 million with operating EBITDA increasing 21.4% to $11.4 million. However it notes that it is uncertain about the economic outlook following Brexit.
Melhuish also notes that the focus for the Enero Group in the coming year will be maintaining its margin, building its new Sydney hub office in Pyrmont and expanding in the US.
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