17th Feb 2014 12:59
LONDON (Alliance News) - DQ Entertainment PLC's Indian subsidiary Monday saw pretax profit rise despite declines in revenue in the nine months ended December 31 2013.
DQE India, which is 75% owned by DQ Entertainment, posted revenue of USD23.03 million, down from USD23.53 million in the previous year. The company said that some revenues will be recognised in the fourth quarter due to delayed approvals from its clients and partners due to the Christmas and New Year holiday season.
It saw a pretax profit of USD5.94 million, up from USD2.98 million in the previous year. The company said this increase was due to foreign exchange gains and better cost controls, cutting down is production and employee expenditure.
The company noted that revenue in its first and third quarters is generally lower than its second and fourth quarters due to seasonality.
Shares in DQ Entertainment were trading down 3.4% at 21.50 pence Monday afternoon.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
Copyright © 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
DQE.L