25th Sep 2013 09:00
LONDON (Alliance News) - Entertainment One Ltd Wednesday said revenues and operating profits are significantly ahead of last year due to its acquisition of Alliance Films Holdings Inc. in January, and it expects full-year earnings to be in line with management expectations.
In a trading statement ahead of its interim results, the independent film and television show distributor said trading in the first six months of its financial year had continued in line with its expectations.
The company, which has just been included in the FTSE250, said margin improvements had been driven by a doubling in digital revenues at its film unit and synergies from the acquisition of Alliance Film.
Entertainment One recently finalised its independent library valuation, valuing its Film, Television and Music library in excess of USD650 million, up from USD385 million at March 31, 2012.
The company's shares were down 0.1% at 22.5 pence Wednesday morning.
By Steve McGrath; stevemcgrath@alliancenews.com; @SteveMcGrath1
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