DQ posts positive quarterly update

DQ Entertainment, the AIM-listed entertainment, production and distribution group, has announced a positive quarterly operations update.

The media minnow, with a market cap of £13.5m, states that it is "continuing to deliver new productions and has signed several new licensing and merchandising deals during the quarter ended September 30th 2012."

The group delivered five new TV productions in the third quarter of the calendar year, while three new projects were commissioned.

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DQ is best-known for making animated 3D television programmes for children and appears to be making progress selling them to subsidiaries of the Walt Disney Corporation among others.

Consensus estimates are that it will make a pre-tax profit of £6.55m for the year ending 31 March 2013, putting it on a forward PE of 3.3.

In early morning trade it was up 2.5p at 37.5p.

CM