18th May 2009 07:00
For Immediate release May 18, 2009
DQ ENTERTAINMENT PLC
TRADING UPDATE
YEAR ENDED 31.03.2009 : PROFITS IN LINE
DQ Entertainment PLC ("DQE" or "the Company") (AIM : DQE), the animation, gaming and entertainment Company, announces a trading update for the financial year ended 31 March 2009.
DQE's business continues to remain buoyant driven by a strong pipeline of contracts with leading production houses across the globe for co-production and distribution of iconic properties..
During the last financial year, the Rupee had a mixed run against various currencies; depreciating against the US Dollar considerably, whilst not changing significantly against the Euro and appreciating against Sterling - as a consequence sales are expected to be marginally lower. Inspite of this backdrop and global credit crisis, the Company is pleased to announce that it expects to meet market profit expectations.
The Company's strategy of investing in its own Intellectual Property has been encouraging with confirmed contracts from major international broadcasters
Outlook
The Indian, as well as the global, media & entertainment sector continues to grow. DQE expects its own business to continue to benefit from the available opportunities. The outlook for DQE is as follows:
DQE has strong order book visibility.
FY 2010 is expected to be another year of continued growth driven by DQE's technology leadership.
The New Media and Distribution divisions are expected to contribute a greater share of revenue due to the development of our own Intellectual Property and through various licensing and distribution agreements.
The Preliminary results will be announced in late June / early July,
Contact :
|
DQ Entertainment Plc Tapaas Chakravarti, Chairman & CEO Niranjan Prasad, VP Finance & Corporate Affairs |
Tel: +91 40 235 53726 |
|
Religare Hichens Harrison Vineeta Manchanda Alan Mackenzie |
Tel : +44 20 7382 4662 |
|
Buchanan Communications Mark Edwards Jeremy Garcia Miranda Higham |
Tel: +44 20 7466 5000 |
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