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.
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.
Try 6 free issues of MoneyWeek today
Get unparalleled financial insight, analysis and expert opinion you can profit from.
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
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.
--
cj
