Adcorp revenues down 5.1%

By By David Blight | 29 August 2011

Marketing and advertising group Adcorp has cited a flat market and pressure caused by natural disaster as the key reasons behind a revenue loss of 5.1% in the last financial year.

The company took in revenue $29.5 million and while down on last year, reported a net profit after tax of $1.4 million - up from a loss of $7.1 million on the previous year.

The company said natural disasters in Australia and New Zealand did not help growth, and that the soft market has also been a hindrance.

In a statement to the ASX, Adcorp said: "Adcorp starts the new financial year in a good position to seize opportunities and grow; although markets remain challenging and uncertain."

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