Entertainment One boosted by Alliance acquisition

Film, TV and music company Entertainment One said that revenues in the year to date have increased by 15 per cent, helped by its recent acquisition of Alliance Films, a leading distributor of filmed entertainment products in Canada, the UK and Spain.

Excluding the contribution from the Alliance acquisition, which was officially completed last month, revenues rose 11%.

The firm said that full-year earnings for year ending March 31st are expected to be in line with management's expectations.

Film, which accounts for around half of group revenues, saw turnover rise 24% in the first 10 months of the year as it released 159 movies theatrically, up from 125 the year before. This growth generated a 56% increase in box office receipts.

The biggest titles of the year so far include the latest film of the Twilight saga, The Impossible, Quartet and Django Unchained.

In regards to the Alliance acquisition, the firm said that the business integration process is progressing well. "The integration is delivering savings ahead of schedule and remains on track to deliver management's synergy target."

Meanwhile, TV delivered over 215 half-hours of programming in the first 10 months, up from 152 previously, as revenues increased 30%. The company expects to deliver a total of 290 half-hours of programming this financial year.

However, Distribution revenues have fallen 4.0% year-to-date "reflecting the decline in the physical home entertainment market in Canada offset by growth in the US where increased activity in the Group's US film business delivered higher volumes."