In the SMH this morning ...9.17amIsentia profit takes a hit from...

In the SMH this morning ...

9.17am

Isentia profit takes a hit from cyber security incident

By Lucy Battersby

Media monitoring company Isentia's profit will take a hit following a "cyber security incident" in October that forced it to shut its Mediaportal. "As a result of the incident, Isentia has provided discounts or credits to affected customers, significantly reducing expected 2020-21 revenues," it told shareholders this morning. "The company has also incurred remediation costs, which together with the revenue impact, are expected to reduce net profit before tax by $7 million to $8.5 million in 2020-21." "This has been a challenging time for Isentia, and I am grateful for our customers' ongoing support and proud of our people's response," chief executive Ed Harrison said.

Isentia also confirmed a Commonwealth Bank facility of $33.5 million. The money would be used to invest in products and technology.

Shares were trading at 19¢ in October, but closed at 12¢ on Tuesday.

DYOR