24th May 2016 06:45
LONDON (Alliance News) - Film and television producer Entertainment One Ltd on Tuesday said its pretax profit and revenue grew in the year to the end of March, helped by a strong performance from its television and family divisions, which offset a weaker year for its film arm.
The FTSE 250-listed group said pretax profit for the financial year to March 31 grew to GBP47.9 million from GBP44.0 million, helped by revenue rising to GBP802.7 million from GBP785.8 million. The group will pay a dividend for the year of 1.2 pence per share, up from 1.1p a year earlier.
Entertainment One said its television arm saw organic revenue grow 27% over the year and has continued to see success with third party content, in addition to signing new development and production deals. Mark Gordon Co, the US producer it acquired at the start of 2015, performed in line with expectations.
The family arm, which houses the Peppa Pig children's property, produced strong growth over the year, with revenue up 10% and a new series of Peppa Pig coming in July.
The film unit, however, saw revenue fell 7.0% over the course of the year, and Entertainment One has kicked off a restructuring process to trim GBP10.0 million in annual costs by the 2018 financial year from the film business.
By Sam Unsted; [email protected]; @SamUAtAlliance
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