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Entertainment One is a leading independent entertainment content owner that acquires film, television and music rights and exploits these rights in all media in more than 190 countries.
The company currently operates in Canada, the U.S., the UK, Holland and Belgium through its four primary businesses units: E1 Television, E1...Read more
RNS Release - Pre-close trading update
28 March 2012
On behalf of:
Entertainment One Ltd. ('the Company', or 'the Group')
Entertainment One Ltd.
Pre-close trading update
§ Strong fourth quarter trading with increased investment driving future growth
§ Peppa Pig allocated extra half hour broadcast slot in the US and international expansion continues with plans to enter Far East markets
§ Twilight Saga: Breaking Dawn - Part 1 highest selling DVD release to date in 2012 in UK and Canadian markets and the Company's biggest ever digital release
§ Television completes a strong year of growth with encouraging future pipeline
§ Board is actively considering moving the Company to a Premium Listing during the next financial year
Prior to entering its close period, Entertainment One Ltd. (LSE:ETO), the independent international entertainment group, is pleased to announce the following update for the financial year ended 31 March 2012.
The Company has had a strong fourth quarter and expects results for the financial year to be in line with management expectations. Management remains very positive regarding the future performance of the business, as the Group's content-driven strategy continues to deliver strong results. The Group's Film and Television slates for the coming year have benefited from a significant increase in investment in content during 2012, supported by the strength of the Group's balance sheet and operational cash flow. In addition, the Company continues to assess acquisition opportunities to accelerate the Group's strategy and expand its content ownership and international reach in Film and Television.
Following its successful move from AIM to a Standard Listing on the Main Market of the London Stock Exchange in July 2010, the Company is considering applying in due course to the UKLA for a Premium Listing of its ordinary shares on the London Stock Exchange and would expect to complete this during the coming financial year, subject to satisfying the required eligibility criteria.
The Film business enjoyed a busy theatrical slate including the releases of Tinker, Tailor, Solider, Spy, A Dangerous Method, A Separation, The Grey, Man on a Ledge and A Monster in Paris. The Twilight Saga: Breaking Dawn - Part 1 was released to DVD in the quarter and reached number one in both the UK and Canada, becoming the highest selling release so far this calendar year in both territories and the Company's biggest digital release to date. In Canada, results from the recently acquired Vivendi catalogue have been ahead of expectations and a new digital deal was recently signed with Netflix. The first theatrical titles acquired by the US Film business are due for limited release early in the new financial year and the Company is already gaining good traction with the new International Sales initiative.
The Television business expects to deliver another strong year of growth and continues to build its pipeline of new shows including Saving Hope on NBC, the upcoming production Rogue for DirecTV and HBO Canada and worldwide rights to Primeval: New World, a spin-off from the original Primeval series. The business has also recently announced a deal with multi-Emmy award winning producer Steven Bochco (Hill Street Blues, LA Law, NYPD Blue, Doogie Howser M.D.) to develop and produce Evolution, an original futuristic new drama series. Existing titles also continued to perform well, with The Walking Dead Season 2 finale setting a new record for viewing figures on US cable networks. Production of the third season of Haven is now underway with delivery to broadcasters expected in the second half of the new financial year, and the third season of Rookie Blue will premiere on ABC and Global at the end of May. The Firm, which premiered in the US in January, is selling well internationally. As a result the Group has its strongest ever slate of titles for the upcoming annual MIPTV market in Cannes.
In Family, following the continued strong viewing figures in the US, Peppa Pig has recently been allocated an additional half hour broadcast on Nick Jr., and is now showing for one hour, seven days a week in the high profile lunchtime slot. This underpins the Company's expectations for a strong launch of licensing and merchandising later this year. Following last year's deal with Fisher-Price, excellent progress has been made to ensure that a range of toys will feature prominently on retail shelves nationwide for the 2012 holiday season. This rollout will be complemented by books, following significant deals with two major US publishers, and a DVD launch. Following the success of the broadcasting launches in Spain, Italy and Australia, Peppa Pig licensing and merchandising programmes are now in place with leading partners in all three territories. In addition Peppa Pig is expanding further internationally with plans being accelerated to enter the Far East markets.
The Canadian Distribution business continues to perform ahead of its market and results in the final quarter are expected to be higher than the same period in the prior year, in line with management expectations.
Results for the financial year ended 31 March 2011 will be announced on 28 May 2011.
+44 (0) 207 566 6720
Entertainment One Ltd.
+44 (0) 207 907 3773
Cenkos Securities plc
Singer Capital Markets Limited
+44 (0) 207 397 8926
+44 (0) 203 205 7500
Notes to Editors:
Entertainment One Ltd. (LSE:ETO) is a leading international entertainment company that specialises in the acquisition, production and distribution of film and television content. The Company's comprehensive network extends around the globe including Canada, the U.S., the UK, Ireland, Benelux, France, Germany, Scandinavia, Australia, New Zealand and South Africa. Through established Entertainment and Distribution divisions, the company provides extensive expertise in film distribution, television and music production, family programming and merchandising and licensing. Its current rights library is exploited across all media formats and includes more than 20,000 film and television titles, 2,500 hours of television programming and 45,000 music tracks.
This announcement has been issued by and is the sole responsibility of the Company.
This information is provided by RNS