Isentia shares soar after the media monitoring company posts a loss

By Chris Pash | 23 August 2019

Isentia posted a full year loss of $34.3 million after booking $41 million in non-cash write-downs.

Revenue was down 1.7% to $122.47 million in a "challenging competitive environment". 

The media montoring company's shares surged on the ASX. A short time  ago, they were up 22.5% to $0.38.

isentia

 

CEO Ed Harrison, the former head of the Yahoo7 joint venture, says the underlying operating profit result of $23.1 million is in line with the earnings guidance given in August 2018.

“In FY19, we pointed the company in a different direction with the appointment of a new leadership team and the launch of a new strategy," he says. 

"We realised significant operational efficiencies across the organisation through increased automation and the use of our Asia-Pacific network to optimise resource allocation. 

"This ongoing shift from investment in operations to investment in technology continues to improve productivity, reduce costs and, most importantly, deliver higher quality services to our clients. 

“While the Australian market remains competitive, we have restructured our account management function and established a dedicated business development team that is focused on new sales and competitive win-backs.

"We have also refreshed our go-to-market plan which includes a new website, new packages and rate card. This has resulted in growth in new clients and we continue to renew the majority of our contracts." 

The 2019 numbers:

isentia 2019

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