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- Revenue in media company engage:BDR (EN1) increased by 50 per cent over the last year, with the company claiming it “moved several mountains” over the milestone period
- Gross profit also jumped 216 per cent to $9.3 million at the end of last year
- In early 2019, the company announced a strategic plan to move towards profitability and deliver some key milestones
- engage says it has successfully achieved all of these goals and milestones
- These include growing gross margins by 42 per cent and consistently signing key customers and partnerships
- engage remains steady on the market today, trading at 1.9¢ apiece
Media company engage:BDR (EN1) saw its revenue increase by 50 per cent over the last year.
Gross profit also jumped 216 per cent to $9.3 million from $4.3 million earned in the previous corresponding period.
Early last year, the company announced a strategic plan to move towards profitability with key milestones for 2019.
In today’s announcement, engage declared it has successfully achieved all of these goals.
“100 per cent of the initial milestones and 100 per cent of the subsequent, upgraded milestones were achieved on or before schedule in 2019,” the company told the market.
engage said it implemented several cost-saving measures to reduce operating expenses, such as decreasing 43 per cent of total staff costs and 26 per cent of operating and administrative expenses.
CEO Ted Dhanik said that 2019 was a crucial year for engage.
“At the beginning of the year, we set out to move a mountain with just a strong plan…I believe we moved several mountains by believing in and daily execution of that plan,” Ted said.
“We now have a blank slate; we are positioned well with a strong balance sheet, key and unique partnerships and most importantly, the winning team,” he added.
According to engage management, the company has never been in a better position for growing revenue, profitability and market share growth.
The company says it is off to a great start for 2020 with three times the revenue it had this time last year.
“We have a head start on 2020 with about 3 times the revenue we had this time last year; we’re focused on keeping that momentum growing,” Ted told the market.
engage remains steady on the market today, trading at 1.9¢ apiece at 12:16 pm AEDT.
