YBR builds brand
The most interesting disclosure in Yellow Brick Road's results announcement for the December half-year was that the company paid A$2.6 million to have executive chairman Mark Bouris front The Celebrity Apprentice, the Channel Nine reality show, for three years.The "sponsorship" is part of a strategic partnership with Nine Entertainment designed to "establish a strong platform to build the brand over several years."While YBR reported a bigger loss for the December half than in the previous corresponding period, there were some encouraging signs.Revenue was up 30 per cent to $6.7 million. Mortgage and finance revenue was up 86 per cent, wealth management revenue was up 30 per cent, accounting revenue was flat, and general insurance revenue was down 54 per cent.Expenses went from $5.6 million in the six months to December 2010 to $10.1 million in the latest half, "reflecting the investment in growing the business".The company made an operating loss of $3.4 million, compared with a loss of $547,000 in the previous corresponding period.