19th Nov 2013 10:31
LONDON (Alliance News) - Entertainment One Ltd posted rising revenue and pretax profit in the half-year to September 30, boosted by its acquisition of Alliance Film Holdings Inc.
Revenue was GBP364.5 million, increased from GBP220.5 million in the previous year. Pretax profit was GBP1.1 million, increased from GBP1.0 million in the previous year. During the period Entertainment One saw one-off costs of GBP3.4 million associated to its acquisition of Alliance Film and its transfer to a FTSE 250 listing.
In the company's film division revenue was driven by the acquisition of Alliance Film. Revenue for the division was GBP306.9 million, up from GBP162.0 million in the previous year. Overall theatrical revenues increased 11% as titles including 'Riddick', 'Now You See Me' and 'Rush' performed well at the box office.
Home entertainment revenues were down 12%, in line with a general move away from the popularity of the DVD format, however declines were offset by 25% growth in digital and broadcast revenues. Digital and broadcast revenues were boosted by ongoing agreements with LOVEFiLM and Netflix, as well as an additional broadcast deal with the BBC.
The company's film production business, acquired with Alliance Film, saw a strong period as it worked on productions like 'Insidious: Chapter 2' and 'The Woman in Black'.
In Entertainment One's television division revenue grew to GBP70 million, up from GBP67.0 million in the previous year. Within this segment the company's family business grew 30% as its brand 'Peppa Pig' continued to perform well.
Entertainment One joined the FTSE 250 September 23. Its shares were trading up 1.50 pence at 243.50 pence Tuesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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