2nd Aug 2006 07:00
Embargoed: 0700hrs, 02 August 2006 DCD Media Plc ("DCD Media" or the "Group") Trading Update & Announcement of New Projects DCD Media is pleased to report on its trading activities for the second half ofits financial year ending June 30th 2006. Overall the Directors anticipatethat, subject to audit, the Group profits before tax for the financial year toJune 2006 will moderately exceed expectations, and are comfortable with theoutlook.Below, the Company is pleased to provide a review of its subsidiaries'operations as well as the announcement of two major new projects won by itssubsidiary, Done and Dusted (`DandD').Done and DustedDandD, the specialist rock music and staged events producer, was acquired bythe Group at the end of February 2006, and its trading for the few months ofDCD Media's ownership has been broadly in line with expectations. In additionit is, today, delighted to announce that a DandD team is to produce and directthe MTV Video Music Awards ("VMAs") in August 2006. This is one of the largestmusic events on the international calendar, and represents a significant stepin DandD's incursions into the US market. Additionally DandD will, in November2006, not merely be televising the Victoria's Secret Fashion Show in the U.S.Afor CBS TV, as they have done in previous years, but will be involved indevising and staging it too. This will see DandD's turnover from this singleevent rising from $2m to approximately $5m. These two new projects areadditional to our original expectations for the company.Box TVBox TV, the leading television drama production company which was acquired inDecember 2005, has performed ahead of expectations in winning the ITVcommission `Bon Voyage' (turnover ‚£2.6m), as previously announced, in additionto the work that was projected for it. Furthermore, its international rightshave begun to be distributed in-house by NBD TV, the other company acquired inDecember, thus maximizing the revenues available from the exploitation of itsprogrammes.NBD TV & DCD DistributionDuring the period, the two distribution divisions, NBD TV and DCD Distribution,have been consolidated to form a single unit as of July 1st, with resultanteconomies of scale, and no trading downturn during the process.Iambic Productions& Digital Classics DVDWhile there has been some slippage in Iambic Productions caused by themanagement changes at ITV delaying commissions, and in Digital Classics DVDcaused by later-than-anticipated launches in international territories, bothhave sound underlying trading positions and outlooks. Iambic is producing a newprogramme for BBC One, with two other shows in post-production and anotherabout to start, while the DVD label has been recently boosted by the launch ofthe first of a monthly series of comedy classics. Early signs are that theseadditional titles are likely to produce very strong recurring revenues.Chief Executive Chris Hunt said, "I am delighted at the performance of ourrecently acquired subsidiaries, which have been smoothly assimilated into theGroup. Synergies have begun to emerge, and all our operations are performingwell. This does not however mean that we will rest on our laurels; we believethat significant further growth can be achieved through both internal expansionand acquisition, so long as they enhance shareholder value, and we are activelyseeking such opportunities".For further information please contact,Chris Hunt, Chief ExecutiveDCD Media PlcTel. 020 7636 1400Ben Simons/Adam ReynoldsHansard CommunicationsTel. 020 7245 1100ENDDCD MEDIA PLCRelated Shares:
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