25th Mar 2014 11:37
LONDON (Alliance News) - DCD Media PLC said Tuesday that it expects revenues for the 2013 financial year to be in the region of GBP14 million, in line with expectations but lower than the previous year, as it was hit by a weak production division.
In a pre-close trading statement, the independent television production and distribution group said that it continues to find trading difficult in its production division, and expects the market to remain challenging in the coming months, which will hit revenues in the year ahead.
"The loss of the long-running Bridezillas franchise, which was managed through our US operation, will also impact 2014 revenues and has required a reshaping of the cost base," said Chief Executive David Craven in a statement.
DCD Media said it is expecting revenues for the financial year ended December 31, 2013 to be in the region of GBP14 million, down from the GBP16.1 million reported in 2013.
Craven said he is hopeful that the business can secure "meaningful" production commissions in the near future, but warned that trends in TV production are pointing to a slowdown in new business.
"Conversely, in the Rights and Licensing division, the outlook is strong with growing market share both at home and overseas," said Craven.
The group said it is confident that the rights and licensing division will deliver another year of revenue and profit growth in 2014.
The group said it will announce its 2013 full year results in May.
DCD Media shares were untraded Tuesday morning; they last traded at 400.00 pence per share.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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