28th Aug 2014 13:40
LONDON (Alliance News) - DCD Media PLC Thursday said it had traded in line with its own expectations in the first half of the year, and while trading is still difficult in its production units, it remains cautiously optimistic.
In a trading update, the company said its rights division continues to perform on budget and is growing by winning new distribution contracts at home and overseas. The gross value of the acquisitions so far this year is up 30% on 2013, and the company will be launching new products at the MIPCOM fair in Cannes in October.
"The board has continued to focus on developing the rights and licensing division and rationalising the production entities whilst building a sustainable business," it said.
"The board is aware of the significant decline in the group's share price over recent months and I would like to assure all shareholders that we continue to work to deliver sustained growth and shareholder value across a balanced business," Chief Executive David Craven added in the statement.
The company will put out its results for the six months to end-June at the end of September.
DCD Media shares were up 4.7% at 140 pence Thursday afternoon, well below the 837.50 pence level they stood at a year ago.
By Steve McGrath; [email protected]; @SteveMcGrath1
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