I missed this...sounds interesting, page-3

In this sort of business staff costs are really the only significant overhead.

Without well paid and pampered staff, there is no revenue.

They are your COGS, your client relationship and creative edge. I don't think the main game is to slash staff costs but to raise revenue and collect their billings as quickly as possible, which they seem to have done quite well considering the economic circumstances.

I thought 3% revenue growth in the current national and international business cycle is pretty commendable. US still has work to do but thankfully the group has diversified offshore over the past few years or things would be really crook.

Mumbrella have the glass half full view here: https://mumbrella.com.au/enero-back-black-profit-336-387081

Share price finished on a 5 year high. You could have picked them up for 30 cents 4 years ago.Two major funds have expressed confidence so they think the risk if on the upside.

Unfortunately the media world has completely changed since I originally purchased in 2010 in the hope of a quick buck on a quick turn around. Lesson learned!

While I am still in the red I think they are doing a pretty good job. If they could get a bit more growth out of the US it would boost the bottom line considerably.

Maybe next year for the divvy but for me, I'd rather growth.