13th Feb 2014 09:54
LONDON (Alliance News) - Entertainment One Ltd rose to the top of the FTSE 250 Thursday after it said its full-year results would beat management expectations, as it saw revenue rise in the ten months ended January 31, 2013.
Entertainment One also expects to announce the commencement of a progressive dividend policy at the time of its full-year results.
The media company said reported revenues for the ten months were up 56%, driven by growth in its Film and Television divisions. On a pro forma, constant currency basis, revenues were up 7.5%.
In its Film division, Entertainment One saw 235 films released in the ten month period, up from 167 in the previous year. This included Oscar nominated 'American Hustle' and '12 Years A Slave', alongside titles such as 'Now You See Me' and 'The Hunger Games: Catching Fire'.
Entertainment One expects to release around 270 films in total during the full year ending April 30. Titles lined up for the following year include 'The Hunger Games: Mockingjay Part 1' and 'Pompeii'.
In its Television division revenues rose 34% compared to the previous year. The company saw higher output in its Television Production business, delivering 240 half hours compared to 217 in the previous year, with work on shows including 'Saving Hope', 'Hell on Wheels' and 'Haven'.
Entertainment One signed a three-year television output deal with US cable network AMC Networks, and a worldwide distribution deal with 'Sin City' director Robert Rodriguez's El Ray Network during the period.
In its Family entertainment division 'Peppa Pig' continued to perform well, alongside 'Ben and Holly's Little Kingdom'.
Shares in Entertainment One were trading up 4.0% at 339.43 pence, the top gainer on the FTSE 250.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
Copyright © 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
Entertainment One