Enero shares rocket on positive profit results in a COVID-19 world

Chris Pash
By Chris Pash | 13 August 2020
 
Thinkstock

Shares in Enero surged after the boutique marketing and communications posted its annual results showing rising revenue and better profits despite the economic fallout from COVID-19.

Net profit after tax was up 6.6% to $12.9 million and net revenue 4.9% higher at $135.8 million.

The company has strong exposure to technology, healthcare and consumer staples clients, all sectors doing well during the pandemic. Key clients include, Facebook, Adobe and ALDI.

Enero shares surged more than 20% on the ASX to $1.72. 

The Enero group includes creative agency BMF, PR agencies Hotwire, Frank and CPR, strategic data consultancies The Leading Edge and The Digital Edge, digital agency Orchard and programmatic marketing specialist OBMedia.

Recently appointed Enero Group CEO Brent Scrimshaw says he’s impressed with the group’s innovation agenda and the outstanding quality of the team.

“Enero is now in a strong financial position to accelerate our momentum and create the next chapter of growth through some of the best performing brands in the market in Australia, UK, Europe and the USA,” he says.

"I will be working with the teams to bring new capability to our existing Group offering and investing in the expansion of our network in the coming year.’’

The directors declared a fully franked dividend of 3.5 cents a share.

The full year numbers:

Enero full year 2020

 

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