Revenue improves at Content Media

Aim listed media rights owner Content Media expects to see a stronger second half, after a satisfactory first half, and predicts a solid full year performance.

The video production firm said pre-tax profit rose to £0.2m for the six months ended 30 September from £0.1m the year before. Turnover during the period increased to £8.5m from £6.6m before.

The group, which is a joint owner of US reality television production company, Collins Avenue, said gross profit before operating expenses rose to £3.8m from £3.4m in 2010.

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Chief executive officer John Schmidt said, "Our investment in Collins Avenue is beginning to yield positive results for us and it is now set to become a leading US factual entertainment production company. We hope that further growth opportunities as well as new investment opportunities will arise in this area."

Content Film said it anticipates a stronger second half performance as new titles are delivered while its sales to digital platforms continue to grow.

It said overheads remain stable with a small increase predominantly due to Collins Avenue.

Net debt reduced to £19.2m from £20.3m in 2010.

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cj