Nordic Morning Group reports resilient results for first half 2020 despite global crisis.
Nordic Morning Group reports a consolidated net revenue of EUR 39.2 million (EUR 42.1 million) during the first six months of 2020 – despite the COVID-19 pandemic and subsequent global economic crisis.
The first half of 2020 sent millions of people into lockdown, leaving us more dependent on online tools and trade than ever. Brands were forced to adapt to new ways of connecting with their customers at a much higher pace than was previously expected. As their counterparts in the industry struggled, Nordic Morning Group saw a steady demand from both new and existing clients. With expertise in customer-centric business transformation and digital services, Nordic Morning Group is positioned to help companies adjust to the rapid changes of 2020.
“Our company has long been aware of the advantages of early adoption in areas such as data usage, growth hacking, digital marketing and customer retention. The Corona crisis has showed us exactly how essential these tools are for companies and in extension our clients, which in turn has worked in our favor,” said Anne Årneby, CEO of Nordic Morning Group.
Nordic Morning Group reports a consolidated net revenue of EUR 39.2 million (EUR 42.1 million) for the first six months of 2020. The net revenue in Finland was EUR 27.2 (27.5) million, and the net revenue in Sweden was EUR 12.1 (14.6) million. The decreased net revenue is largely due to the effects of the COVID-19 pandemic.
“The communications industry is reeling, but at Nordic Morning Group we are seeing our long-term strategies evolve in line with the demand for digital marketing and communication services. There is a decrease in net revenue, but rather than a loss, it is an indication that we are on the right path at a time when our competitors are facing much larger hardship due to the pandemic,” said Anne Årneby.
Nordic Morning Group’s operating profit was EUR 0.4 (0.3) million, representing a year-on-year increase of EUR 0.1 million. In the Nordic Morning business area, the net revenue was EUR 15.7 (19.7) million with an operating profit of EUR -0.1 (-0.4) million.
Thanks to a period of long-term growth, Nordic Morning Group has reported increased net revenue and operating profit (before one-time items) during the past two years. Despite facing a global economic crisis, the company continues to drive change and meet the demands of clients navigating through a rapidly changing communications and marketing landscape.
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