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engage:BDR higher on hitting 36% year-to-date revenue growth to July 31

As of July 31, 2020, revenue for 2020 grew to $10.3 million, 36% greater than the same period last year.

engage:BDR Ltd - Engage:BDR reports 36% revenue growth in July
The advertising industry traditionally expects 65-70% of its revenues in the second half of the year

engage:BDR Ltd (ASX:EN1) is trading higher after recording a 36% increase in year-to-date revenue as of July 31, 2020.

To the end of July the company recorded revenue of A$10.3 million in the seven months compared to A$7.6 million at July 31, 2019.

Shares have been as much as 40% higher to 0.9 cents intra-day and are up from 0.5 cents at the close on July 16.

Revenue 4% from June

The company also recorded a 4% increase in monthly revenue in July compared to the previous month, at US$904,000 or A$1.27 million.

In June EN1 reported revenue of US$868,000 or A$1.25 million.

Consistent to EN1’s results, the advertising industry traditionally expects 65-70% of its revenues in the second half of the year from July to December, as the company experienced in 2019 with 34% in the first half and 66% in the second half.

EN1 expects 2020 to produce similar revenue seasonality, as experienced in 2019 and all prior years.

The company notes that all figures are unaudited, as all financials are pending adjustment, audit and/or review.

Quick facts: engage:BDR Ltd

Price: 0.0055 AUD

ASX:EN1
Market: ASX
Market Cap: $9.48 m
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