Entertainment One reveals bullish interims

Strong film and TV businesses help half time revenue rise almost 30 per cent.
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Entertainment One has seen strong growth in both its film and television divisions in the six months to September 30th, helping the firm to a healthy leap in revenue.

Revenue in the period rose 29.6 per cent, or 18.9 per cent using constant exchange rates, to £212 million from £163.6 million last year.

The entertainment division increased its revenue by 42 per cent to £128.7 million, although revenues in distribution were six per cent lower. This was mainly due to a reduction in the number of major home entertainment releases in Canada during the period.

Underlying earnings before interest, tax, depreciation and amortisation rose 34.1 per cent to £12.47 million from £9.30 million a year earlier.

Adjusted profit before tax was up to £7.5 million from £2.8 million the year before, while the reported loss before tax narrowed to £2.5 million from £7.9 million at the interim stage last year. This is despite a one-off charge of £1.8 million relating to the company moving to the London Stock Exchange.

The arrival of Peppa Pig on Nickelodeon in the US next year is expected to give the firm another major lift, while the DVD release of The Twilight Saga: Eclipse should be another strong performer.


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