27th Jul 2015 09:11
LONDON (Alliance News) - One Media iP Group PLC, which acquires and repackages nostalgic music and TV programmes, said it's coping as people increasingly turn to streaming music instead of downloading it.
The company said its pretax profit fell to GBP270,454 in the six months ended April 30, compared with GBP345,570 in the corresponding period the prior year.
"We believe that the group is positioned correctly both technically and from a content perspective to benefit from the changes within the industry moving forward," Michael Infante, chairman and chief executive, said in a statement.
"Opportunities for further acquisition of content and development are paramount to our operation and despite some pending industry turbulence we remain positive on the outlook of our business," Infante said.
One Media iP interim dividend remained at 0.071 pence per share.
Shares in One Media iP were untraded at 8.5 pence on Monday morning in London.
By Samuel Agini; [email protected]; @samuelagini
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