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Asia remains bright spot as Isentia reports ‘disappointing’ loss after King Content write downs

Media intelligence company Isentia has this morning reported a loss of $24 million for 2017 off the back of flat revenues and the write down of the King Content business.

“While we are clearly disappointed with the performance of the business during FY17, our priority is to drive shareholder value by leveraging Isentia’s market leading position in the ANZ and Asian Media Intelligence market,” CEO John Croll said in the ASX announcement.

John Croll, CEO of Isentia

Revenues declined slightly from $156 million to $151.1 million, however the write down of the King Content business saw net profit after tax fall to a $13.5 million loss from last year’s $24.3 million profit.

Asian revenues were a bright spot for Isentia with an increase of 16% to $32.9 million, however EBITDA fell 5% to $6.6 million due the rationalisation of the regional business and writing off of bad debts.

“FY17 was a disappointing year with the business performing below expectations, particularly at King Content,” Croll continued. “The board and management remain confident in the market positioning of Isentia and we have implemented initiatives to improve performance across the business.

“Client retention is strong with stable client numbers in FY17 Q4 and Isentia has delivered a number of product improvements to support its market leading position.”

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