30th Sep 2015 09:53
LONDON (Alliance News) - Television production and distribution company DCD Media PLC Wednesday said its outlook in the short to medium term is encouraging as it continues to expand its content library, and reported a narrowed pretax loss for its first half.
For the half year to end-June, the company reported a pretax loss of GBP276,000, narrowed from a pretax loss of GBP722,000 a year before, as revenue rose to GBP6.5 million from GBP5.2 million.
DCD said that cost-cutting measures and restructuring it undertook in 2013 and 2014 helped it to produce a steady performance in its first half, and it expects a similar performance for the remainder of 2015.
"We are delighted to report that work we have undertaken in the last couple of years to create a more cost-efficient business with more reliable income streams has resulted in a positive adjusted EBITDA figure for the first half," said Executive Chairman David Craven in a statement.
"While the board's focus for the group remains on the international rights distribution business, the production businesses continue to win new commissions and develop exciting ideas and the board believes DCD Media is well positioned for the future," Craven added.
Shares in DCD Media were down 2.8% at 520.00 pence Wednesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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