Archived News
In August 2021 Finfeed changed from a website that covered ASX listed news to a website
that covered a select range of ASX
listed small cap Biotech stocks that we are personally
invested in: find out more.
The old Finfeed website, and all of the old articles are kept here for record keeping purposes.
VISIT NEW SITEEngage:BDR delivers record June half revenues
2 minute read
engage:BDR (ASX:EN1) has provided a promising trading update for the June half which includes commentary on the company’s financial performance, as well as forward-looking operational observations.
Consistent with EN1’s results, the advertising industry traditionally expects 65-70% of its revenues in the second half of the year (July - December), as experienced by EN1 in 2019 (34%/66%).
Management expects 2020 to produce similar revenue seasonality, as experienced in 2019 and all prior years.
Despite the impact of COVID-19 on the group’s second quarter, the company still delivered the strongest first half in history, eclipsing the previous record by 44%.
First half revenue was just over $9 million compared with approximately $6.3 million in 2019.
The Australian dollar strengthened as EN1’s June quarter monthly revenues improved since April, bearing in mind earnings are generated in US dollars.
Positive early signs in July
Early signs of revenue normalisation include a recent daily revenue peak for the last week of June at $50,000.
Additionally, July’s first 4 days have been stronger than the same period in June.
Commenting on these developments, as well as the group’s outlook, chief executive Ted Dhanik said, ‘’I will note, July is the start of a new quarter and typically, the weakest revenue days are in the first month, so this is an early but a warm-welcomed indicator.
‘’We implemented significant operational expense reductions from mid-March 2020, including employee furloughs, pay cuts in in the June quarter (including CEO, COO, the Board), tech infrastructure expenses, outside contractors, rent, and in nearly every category.
‘’Several new lending programs are being introduced in the US, and our finance team is focused on finding equity-free traditional funding to refinance EN1’s notes.’’
S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.
Conflict of Interest Notice
S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.
Publishers Notice
The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain.