iSentia Group Ltd (ASX: ISD) shares fell 10% on Monday following the release of its half year report to the ASX.
iSentia is a $220 million Sydney-based media ‘intelligence’ company which operates throughout Australia, New Zealand and Asia.
Here are the key news headlines from the iSentia half year report:
- Revenue down 11% to $71 million
- A profit in the same period last year turned into a loss of $4 million this year
- An interim dividend of 0.647 cents per share was declared
- CEO John Croll to step down after 20 years in the top job
Commenting on the result, iSentia CEO John Croll said, “1H FY18 has been a challenging six months but our value proposition remains strong. The exit from content marketing allows us to focus on improving the profitability of our media intelligence business.”
iSentia’s media intelligence operations helps businesses track their brand presence over the internet, in print and via broadcast.
“We are the number 1 media intelligence business in Australia and the preferred supplier for a large pool of blue chip clients across the Asia-Pacific region,” Mr Croll added. “Our core media intelligence product is a highly relevant and essential service.”
Looking ahead, iSentia said it is focused on lowering yearly costs by $5 million to $7 million towards the end of the financial year. Over its full financial year, iSentia expects to report between $133 million and $136 million of revenue from its media intelligence business, with operating profit of $32-$36 million (first half: $15.7 million).
iSentia Group shares ended 10% lower on Monday at $1.09.
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