20th May 2014 10:35
LONDON (Alliance News) - Entertainment One Ltd said pretax profit more than doubled in its full-year, as strength across the business was boosted by improved margins in its Film division, increased programming in the Television division and a number of new distribution deals as the firm declared its inaugural dividend.
In its full-year results for the year to March 31, 2014 pretax profit rose to GBP21.0 million from GBP5.5 million in 2013. Reported revenue also rose strongly, up 30% to GBP819.6 million from GBP629.1 million the previous year.
Entertainment One said the results for the year include the first full-year of figures for Alliance Films Holdings which was acquired on January 8, 2013.
On a divisional basis, the company said its revenue rise reflects a strong underlying performance across the group. Its Film division released 275 titles during the year, compared to 311 last year, though the company said the business delivered improved margins driven by the realisation of Alliance synergies and that it has a strong slate of films in place for future years, including those from the renewal of key output agreements and its own production slate.
The Television division delivered 317 half-hours of television programming, compared to 295 half-hours in 2013, and signed new distribution agreements with AMC Networks and El Rey Network. Entertainment One said the division has a strong pipeline of new network orders and renewals already commissioned.
The Peppa Pig brand performed especially well, noted the company, as it continues to expand its international presence - it now has more than 300 licensing agreements globally - into new markets including Latin America, China, South-East Asia, France and Germany, said the firm.
Since joining the FTSE 250 September 23, 2013 the company said it has remained focused on its three strategic pillars; to grow its content portfolio; extend the company's global reach; and to enhance investment returns.
The company declared a final dividend for the full-year of 1.0 pence per share, the company's inaugural dividend.
"It has been another very positive year for Entertainment One and I am delighted to report a year of growth and higher margins. This strong operating performance again demonstrates the strength of our strategy of investing in content rights and exploiting them across multiple territories and multiple consumer platforms. The Company's entry into the FTSE 250 and the payment of an inaugural dividend mark another milestone in eOne's development and continues our track record of delivering an improved return on investment for our shareholders," said Darren Throop, Chief Executive.
Looking ahead the company remains "very positive" for the new financial year.
Shares in the FTSE 250-listed firm were trading 2.04% lower at 273.30 pence per share Tuesday morning, amongst the top ten fallers on the index.
By Alice Attwood; [email protected]; @AliceAtAlliance
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