Proactiveinvestors United Kingdom Entertainment One https://www.proactiveinvestors.co.uk Proactiveinvestors United Kingdom Entertainment One RSS feed en Tue, 16 Jul 2019 09:59:44 +0100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[RNS press release - Total Voting Rights ]]> https://www.proactiveinvestors.co.uk/companies/rns/327/LSE20190709070009_14140929/ Tue, 09 Jul 2019 07:00:09 +0100 https://www.proactiveinvestors.co.uk/companies/rns/327/LSE20190709070009_14140929/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/327/LSE20190702070009_14132407/ Tue, 02 Jul 2019 07:00:09 +0100 https://www.proactiveinvestors.co.uk/companies/rns/327/LSE20190702070009_14132407/ <![CDATA[RNS press release - Notice of Redemption & De-Listing ]]> https://www.proactiveinvestors.co.uk/companies/rns/327/LSE20190626103821_14125306/ Wed, 26 Jun 2019 10:38:21 +0100 https://www.proactiveinvestors.co.uk/companies/rns/327/LSE20190626103821_14125306/ <![CDATA[RNS press release - Closing of Senior Secured Notes Offering ]]> https://www.proactiveinvestors.co.uk/companies/rns/327/LSE20190626070006_14124406/ Wed, 26 Jun 2019 07:00:06 +0100 https://www.proactiveinvestors.co.uk/companies/rns/327/LSE20190626070006_14124406/ <![CDATA[RNS press release - Notice of Conditional Redemption ]]> https://www.proactiveinvestors.co.uk/companies/rns/327/LSE20190614170009_14112190/ Fri, 14 Jun 2019 17:00:09 +0100 https://www.proactiveinvestors.co.uk/companies/rns/327/LSE20190614170009_14112190/ <![CDATA[RNS press release - Pricing of Senior Secured Notes Offering ]]> https://www.proactiveinvestors.co.uk/companies/rns/327/LSE20190614162908_14112148/ Fri, 14 Jun 2019 16:29:08 +0100 https://www.proactiveinvestors.co.uk/companies/rns/327/LSE20190614162908_14112148/ <![CDATA[RNS press release - Launch of Senior Secured Notes Offering ]]> https://www.proactiveinvestors.co.uk/companies/rns/327/LSE20190612070006_14107287/ Wed, 12 Jun 2019 07:00:06 +0100 https://www.proactiveinvestors.co.uk/companies/rns/327/LSE20190612070006_14107287/ <![CDATA[News - Entertainment One rebounds as Peppa Pig maker refutes report its president and chief content officer in talks to quit ]]> https://www.proactiveinvestors.co.uk/companies/news/221647/entertainment-one-rebounds-as-peppa-pig-maker-refutes-report-its-president-and-chief-content-officer-in-talks-to-quit-221647.html Entertainment One PLC (LON:ETO) shares rebounded higher on Thursday after the Peppa Pig maker refuted a report that its president and chief content officer was in talks to quit.

The FTSE 250-listed firm’s comments followed an exclusive in the Hollywood trade title ‘Variety’ which said veteran film and TV producer Mark Gordon was headed for the exit following a stand-off with senior managers.

READ: Entertainment One drops as full year sales disappoint

In a on-line statement, the company said: “In response to recent press speculation, Entertainment One can confirm that Mark Gordon continues to be a part of the eOne team both now and into the future."

The American bank Citi said there appeared to be a “mismatch” between what the article was actually reporting – namely, that Gordon’s role may change - and the share price reaction.

Entertainment One shares tanked in late trade on Wednesday before bouncing on Thursday, up 16.7% to 408.490p in afternoon trading.

“The market appears to have jumped to the conclusion that Mark Gordon is set to exit Entertainment One altogether (based on the negative tone and commentary on internal relations and, perhaps, inaccurate conclusion in the article that suggests there could be a complete departure),” Citi said in a note to clients.

“The comment made by the company implies an exit is not on the cards -‘very important part of the eOne team now and in the future’ – this is not a statement we would expect if an announcement of his departure was imminent.”

In its note, City broker Numis - which is strong on the media and entertainment companies – repeated a ‘buy’ rating on Entertainment One shares up to 573p and saw Wednesday’s dip as an opportunity to pick up the stock on the cheap.

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Thu, 06 Jun 2019 13:52:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/221647/entertainment-one-rebounds-as-peppa-pig-maker-refutes-report-its-president-and-chief-content-officer-in-talks-to-quit-221647.html
<![CDATA[RNS press release - Response to press speculation ]]> https://www.proactiveinvestors.co.uk/companies/rns/327/LSE20190606070007_14100504/ Thu, 06 Jun 2019 07:00:07 +0100 https://www.proactiveinvestors.co.uk/companies/rns/327/LSE20190606070007_14100504/ <![CDATA[RNS press release - Total Voting Rights ]]> https://www.proactiveinvestors.co.uk/companies/rns/327/LSE20190604070009_14097057/ Tue, 04 Jun 2019 07:00:09 +0100 https://www.proactiveinvestors.co.uk/companies/rns/327/LSE20190604070009_14097057/ <![CDATA[RNS press release - Block Listing Application ]]> https://www.proactiveinvestors.co.uk/companies/rns/327/LSE20190530070009_14091628/ Thu, 30 May 2019 07:00:09 +0100 https://www.proactiveinvestors.co.uk/companies/rns/327/LSE20190530070009_14091628/ <![CDATA[RNS press release - Notification of Director Dealing ]]> https://www.proactiveinvestors.co.uk/companies/rns/327/LSE20190524070009_14086083/ Fri, 24 May 2019 07:00:09 +0100 https://www.proactiveinvestors.co.uk/companies/rns/327/LSE20190524070009_14086083/ <![CDATA[RNS press release - Notification of Director Dealing ]]> https://www.proactiveinvestors.co.uk/companies/rns/327/LSE20190522070006_14082724/ Wed, 22 May 2019 07:00:06 +0100 https://www.proactiveinvestors.co.uk/companies/rns/327/LSE20190522070006_14082724/ <![CDATA[News - Entertainment One drops as full year sales disappoint ]]> https://www.proactiveinvestors.co.uk/companies/news/220679/entertainment-one-drops-as-full-year-sales-disappoint-220679.html Sales and profits at Entertainment One Ltd (LON:ETO) fell more than expected in the year to end-March as the Peppa Pig producer completed its pivot from film distribution to production.

Revenues of £941.2mln were down 9% on the prior 12-month period and a fair bit lower than the average City estimate of £1.1bn.

READ: Entertainment One raises £130mln to fund largest ever acquisition

This decline came as growth of 28% in the Family & Brands segment - thanks to a strong performance from Peppa Pig, significant growth from PJ Masks and delivery of new show Cupcake & Dino - was offset by a 13% decline in Film, Television & Music as its strategy adjusted to the shift away from film distribution.

The group said the transition of eOne’s film business was “now largely complete”, with a reduced slate of higher quality titles delivering a 56% increase in average box office revenue per release. Meanwhile, the firm's owned content rights library was independent valued at US$2.0bn, up from US$1.7bn a year ago.

eOne's underlying earnings (EBITDA) were 21% higher at £197.6mln thanks to 37% growth in Family & Brands and a 9% increase in Film, Television & Music, but reported profit before tax dropped to £36.8mln from £64.9mln due to higher impairment charges.

Earnings beat

Adjusted diluted earnings per share rose 30% to 25p, 3% ahead of analysts’ forecasts, while reported EPS fell to 2.5p from 12p reflecting the higher one-off charges.

The full year dividend was nudged up by 7% to 1.5p per share, as net cash generation from operating activities doubled to £30mln and net debt ended the year at £341.5mln.

Looking forward, eOne said the Family & Brands would be boosted by new seasons and licensing and merchandising lines for Peppa Pig and PJ Masks, the launch of a new series Ricky Zoom beginning in China, further cost savings in Film, third-party productions including the latest in Keanue Reeves' John Wick series, plus the £178mln acquisition of UK-based Audio Network that was completed post year end.

Shares in eOne were down 4.5% to 439.6p on Tuesday morning. 

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Tue, 21 May 2019 09:38:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/220679/entertainment-one-drops-as-full-year-sales-disappoint-220679.html
<![CDATA[RNS press release - Full Year Results ]]> https://www.proactiveinvestors.co.uk/companies/rns/327/LSE20190521070021_14080977/ Tue, 21 May 2019 07:00:21 +0100 https://www.proactiveinvestors.co.uk/companies/rns/327/LSE20190521070021_14080977/ <![CDATA[RNS press release - Completion of Acquisition ]]> https://www.proactiveinvestors.co.uk/companies/rns/327/LSE20190418144605_14046858/ Thu, 18 Apr 2019 14:46:05 +0100 https://www.proactiveinvestors.co.uk/companies/rns/327/LSE20190418144605_14046858/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/327/LSE20190418114631_14046583/ Thu, 18 Apr 2019 11:46:31 +0100 https://www.proactiveinvestors.co.uk/companies/rns/327/LSE20190418114631_14046583/ <![CDATA[News - Entertainment One raises £130mln to fund largest ever acquisition ]]> https://www.proactiveinvestors.co.uk/companies/news/218493/entertainment-one-raises-130mln-to-fund-largest-ever-acquisition-218493.html Peppa Pig owner Entertainment One PLC (LON:ETO) has raised £130mln from investors to help fund its acquisition of Audio Network.

The FTSE 250 group is paying £178mln for the music publisher, which has provided scores for TV series including Killing Eve.

READ: eOne sizzles as Peppa Pig brings home the bacon once again

The purchase is the largest in eOne’s history, eclipsing the £140mln it paid for a controlling stake in the producer of Peppa Pig back in 2015.

To pay for Audio Network, it has raised £130mln from investors through the issue of 28.9mln shares at 450p each – a 7.9% discount on Thursday’s closing price.

The shortfall has been covered by a £52mln loan from JP Morgan Chase.

eOne shares were down almost 2% to 467p in early deals on Friday morning.

“As we continue to unlock the power and value of creativity for artists, we are very pleased to welcome Audio Network, whose passionate management team and ambition align with ours,” said chief executive Darren Throop.

“The combination of eOne's front-end commercial artist catalogue and Audio Network's premium diversified music catalogue creates a one-stop solution for business customers seeking high-quality music.”

Deal boosts eOne’s music business

Based in London, Audio Network has 140 employees in nine offices around the world.

It has a “premium” catalogue of more than 150,000 tracks and 30,000 customers, who pay an annual fee to use the music in their productions.

In the year to June, the company posted a 13% rise in revenue to £29mln and pre-tax profits of £10mln.

eOne said the addition of Audio Network would boost its own music division, which has a back catalogue including songs by Snoop Dogg and Dr Dre.

The acquisition is expected to boost earnings in the current financial year and should create “scale, synergies and revenue opportunities” across the group, eOne said.

Acquisition ‘makes sense’, say analysts

“The multiple equates to 15x LTM EBITDA (y/e 30 June 2018), consistent with recent transaction multiples in the music publishing space (and lower than the multiple the market places on Vivendi’s UMG),” noted analysts at Citi.

“We see both strategic and financial sense to the deal. This deal brings a high margin asset with a highly recurring high revenue stream, growing at 13%+, into the group.

“It provides a platform for ETO to expand the revenue potential of its current music catalogue, a source of music content for its video/family production business and scope for geographical expansion of Audio Networks.

“Alongside the deal being EPS accretive in FY20 (as guided), the high cash conversion means it could boost FY20E adjusted equity FCF.”

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Fri, 12 Apr 2019 09:46:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/218493/entertainment-one-raises-130mln-to-fund-largest-ever-acquisition-218493.html
<![CDATA[RNS press release - Results of Placing ]]> https://www.proactiveinvestors.co.uk/companies/rns/327/LSE20190412070005_14038586/ Fri, 12 Apr 2019 07:00:05 +0100 https://www.proactiveinvestors.co.uk/companies/rns/327/LSE20190412070005_14038586/ <![CDATA[RNS press release - Proposed placing ]]> https://www.proactiveinvestors.co.uk/companies/rns/327/LSE20190411171254_14038361/ Thu, 11 Apr 2019 17:12:54 +0100 https://www.proactiveinvestors.co.uk/companies/rns/327/LSE20190411171254_14038361/ <![CDATA[RNS press release - Acquisition of Audio Network Limited ]]> https://www.proactiveinvestors.co.uk/companies/rns/327/LSE20190411170959_14038354/ Thu, 11 Apr 2019 17:09:59 +0100 https://www.proactiveinvestors.co.uk/companies/rns/327/LSE20190411170959_14038354/ <![CDATA[RNS press release - Total Voting Rights ]]> https://www.proactiveinvestors.co.uk/companies/rns/327/LSE20190409070014_14033382/ Tue, 09 Apr 2019 07:00:14 +0100 https://www.proactiveinvestors.co.uk/companies/rns/327/LSE20190409070014_14033382/ <![CDATA[News - Entertainment One sizzles as Peppa Pig once again helps bring home the bacon in 2019 ]]> https://www.proactiveinvestors.co.uk/companies/news/217946/entertainment-one-sizzles-as-peppa-pig-once-again-helps-bring-home-the-bacon-in-2019-217946.html Entertainment One Ltd (LON:ETO) has once again seen its Peppa Pig brand drive growth in its latest full year, while a restructuring of its film arm started to yield results.

In a trading update for the year ended 31 March, the FTSE 250 media firm said underlying earnings (EBITDA) in its Family & Brands division, which includes Peppa Pig, had jumped 25% over the year.

READ: Entertainment One dips as it swings to loss in half year amid restructuring of film distribution arm

The growth had been boosted by Peppa Pig’s popularity in the Chinese market, with the territory reported a 50% revenue increase, thanks to subscription video and 71 live licensing and merchandising contracts.

The company’s other dominant brand, PJ Masks, which depicts children becoming superheroes thanks to magical pyjamas, grew over 40% in the year and represented 37% of the division's total revenues, compared to 57% for Peppa Pig.

TV content increases but pivot to film production dents revenues

The company’s television arm, which produces shows such as medical drama Grey’s Anatomy, had “strong” momentum in the year with 1,000 half hours of produced and acquired content delivered during the year, 20% higher than the year before.

Meanwhile, ETO said its pivot toward production and away from third-party distribution, part of a restructuring plan to increase its content ownership, had resulted in “fewer, but more profitable films” in the year which had improved underlying EBITDA margins.

The company has been aiming to increase its library of unique content in order to address the decline of home media distribution such as DVD sales as consumers shift more toward streaming services like Netflix Inc (NASDAQ:NFLX).

ETO had previously said this shift was fuelling demand for high-quality content and “accelerating at an unprecedented level”, pushing it to make more content in order to remain competitive.

However, the company added that, as expected, the lower number of releases had resulted in lower revenues across the division, with the total of unique titles expected to be 57 for the year, down from 85 previously.

That number was expected to decline further in the coming years as the company aimed for around 35-40 unique titles per year going forward.

For its music business, ETO said a recovery in the industry alongside investment in new business verticals meant the segment’s revenue and underlying EBITDA would be over 20% higher for the current year.

It added that the transition to subscription streaming from a transactional model (i.e. buying music) was now “substantially complete” and had generated “significant revenue expansion” which appeared set to continue into the 2020 fiscal year.

2019 in line

Overall, the company said its underlying performance for 2019 was in line with expectations, with its net debt at year-end around 1.8x its underlying EBITDA.

For 2020, the firm said it was planning to roll out its Ricky Zoom property, a show about a rescue motorcycle, in the Chinese market in the spring and summer of 2019, with a launch in other territories over the autumn and winter.

A number of new television shows and films were slated for release in 2020, including romantic comedic thriller Run and Scary Stories to Tell in the Dark, a film co-produced by Guillermo Del Toro.

Brokers hike target prices

In a note to clients, analysts at broker Investec upped their target price for ETO to 500p from 455p and retained their ‘buy’ rating, saying the company was delivering growth and “leveraging strong global demand” for its content as it evolved into an integrated content pure-play.

There was also a price target hike from JP Morgan to 623p from 621p on the back of what analysts said was a “reassuring” trading update.

The US investment bank also retained its ‘overweight’ rating, adding that they expected “rising interest” from US media majors in ETO, given an “increasing demand for high-quality content” across the industry.

In lunchtime trading Thursday, Entertainment One’s shares were up 3.1% at 458.2p.

-- Adds broker changes and updates target price --

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Thu, 04 Apr 2019 08:36:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/217946/entertainment-one-sizzles-as-peppa-pig-once-again-helps-bring-home-the-bacon-in-2019-217946.html
<![CDATA[RNS press release - Trading Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/327/LSE20190404070004_14028163/ Thu, 04 Apr 2019 07:00:04 +0100 https://www.proactiveinvestors.co.uk/companies/rns/327/LSE20190404070004_14028163/ <![CDATA[RNS press release - Block Listing Return ]]> https://www.proactiveinvestors.co.uk/companies/rns/327/LSE20190312070024_13998172/ Tue, 12 Mar 2019 07:00:24 +0000 https://www.proactiveinvestors.co.uk/companies/rns/327/LSE20190312070024_13998172/ <![CDATA[RNS press release - Total Voting Rights ]]> https://www.proactiveinvestors.co.uk/companies/rns/327/LSE20190307070023_13993175/ Thu, 07 Mar 2019 07:00:23 +0000 https://www.proactiveinvestors.co.uk/companies/rns/327/LSE20190307070023_13993175/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/327/LSE20190304140142_13989324/ Mon, 04 Mar 2019 14:01:42 +0000 https://www.proactiveinvestors.co.uk/companies/rns/327/LSE20190304140142_13989324/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/327/LSE20190225070007_13979601/ Mon, 25 Feb 2019 07:00:07 +0000 https://www.proactiveinvestors.co.uk/companies/rns/327/LSE20190225070007_13979601/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/327/LSE20190221070020_13976495/ Thu, 21 Feb 2019 07:00:20 +0000 https://www.proactiveinvestors.co.uk/companies/rns/327/LSE20190221070020_13976495/ <![CDATA[RNS press release - Block listing Application ]]> https://www.proactiveinvestors.co.uk/companies/rns/327/LSE20190213070004_13967237/ Wed, 13 Feb 2019 07:00:04 +0000 https://www.proactiveinvestors.co.uk/companies/rns/327/LSE20190213070004_13967237/ <![CDATA[RNS press release - Total Voting Rights ]]> https://www.proactiveinvestors.co.uk/companies/rns/327/LSE20190208070002_13962565/ Fri, 08 Feb 2019 07:00:02 +0000 https://www.proactiveinvestors.co.uk/companies/rns/327/LSE20190208070002_13962565/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/327/LSE20190204070006_13956334/ Mon, 04 Feb 2019 07:00:06 +0000 https://www.proactiveinvestors.co.uk/companies/rns/327/LSE20190204070006_13956334/ <![CDATA[RNS press release - Notification of Director Dealing ]]> https://www.proactiveinvestors.co.uk/companies/rns/327/LSE20190123070004_13943380/ Wed, 23 Jan 2019 07:00:04 +0000 https://www.proactiveinvestors.co.uk/companies/rns/327/LSE20190123070004_13943380/ <![CDATA[RNS press release - Total Voting Rights ]]> https://www.proactiveinvestors.co.uk/companies/rns/327/LSE20190108070003_13926611/ Tue, 08 Jan 2019 07:00:03 +0000 https://www.proactiveinvestors.co.uk/companies/rns/327/LSE20190108070003_13926611/ <![CDATA[RNS press release - Director Declaration ]]> https://www.proactiveinvestors.co.uk/companies/rns/327/LSE20181224120354_13915198/ Mon, 24 Dec 2018 12:03:54 +0000 https://www.proactiveinvestors.co.uk/companies/rns/327/LSE20181224120354_13915198/ <![CDATA[RNS press release - Total Voting Rights ]]> https://www.proactiveinvestors.co.uk/companies/rns/327/LSE20181207070004_13895033/ Fri, 07 Dec 2018 07:00:04 +0000 https://www.proactiveinvestors.co.uk/companies/rns/327/LSE20181207070004_13895033/ <![CDATA[News - Entertainment One dips as it swings to loss in half year amid restructuring of film distribution arm ]]> https://www.proactiveinvestors.co.uk/companies/news/209557/entertainment-one-dips-as-it-swings-to-loss-in-half-year-amid-restructuring-of-film-distribution-arm-209557.html Entertainment One Ltd (LON:ETO) shares dipped in early trading Tuesday after it swung to a pre-tax loss in the first half amid a restructuring of its film distribution business.

The FTSE 250 mass media firm reported a pre-tax loss of £40mln, swinging from a £2mln profit in the same period a year ago, while revenues dipped to £405mln from £413mln previously.

Restructuring bites into earnings

The swing was largely attributed to one-off costs of £59.4mln relating to the restructuring of the group’s film distribution business as consumer home entertainment usage continued to decline.

Revenues were mostly supported by the company’s family & brands division, which grew 29% to £76mln, largely offsetting a 7% decline in its film & television business to £331.5mln.

Peppa Pig brings home the bacon

The firm’s Family segment has been boosted by the success of brands such a Peppa Pig in the Chinese market, while the Film & TV division is hoping to recover as it shifts away from distribution and more towards the production of its own content, which includes shows such as zombie drama series The Walking Dead.

EOne added that the integration of Film & TV divisions such as Sierra/Affinity, in which it gained full ownership in July, and The Mark Gordon Company were on track to deliver around £13mln-£15mln of annualised cost savings by the end of 2020.

In its outlook for the full year, the group said performance would be in line with management expectations, with Peppa Pig continuing to drive growth of its Family & Brands segment in the second half, particularly with “clear demand” for the franchise in China and the launch of a Peppa Pig film in the country in early 2019.

READ: Entertainment One fails to provide much sizzle

For Film & Television, eOne said underlying earnings (EBITDA) would be “more skewed to the second half” with a stronger release slate of its films as well as a strong schedule for TV programming with season 3 of Netflix drama Designated Survivor and international distribution of seasons 5 and 9 of The Walking Dead.

The company added that changes in consumer behaviour in regard to content were “accelerating at an unprecedented level” over the year and was fuelling demand for high-quality content, influencing its decision to focus on growing its content ownership.

Restructuring not a "major worry", says analyst

Russ Mould, investment director at AJ Bell, said that the latest results were “an unhappy reminder that certain types of media inevitably go out of fashion”.

He added that the impairment charge from the restructuring “isn’t a major worry” due to the success of its other divisions, with the continual release of content being “mopped up” by streamers like Amazon and Netflix.

Mould also said that the part owner of Entertainment One’s PJ Masks brand, Disney, could potentially want to increase its position given that it is becoming “a very lucrative asset” and could potentially buy up the company given the “great fit” of Peppa Pig and PJ Masks among its other brands.

Shares were down 1.5% at 378.6p.

--Adds analyst comment and updates share price--

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Tue, 20 Nov 2018 09:20:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/209557/entertainment-one-dips-as-it-swings-to-loss-in-half-year-amid-restructuring-of-film-distribution-arm-209557.html
<![CDATA[RNS press release - Half Year Results ]]> https://www.proactiveinvestors.co.uk/companies/rns/327/LSE20181120070014_13872726/ Tue, 20 Nov 2018 07:00:14 +0000 https://www.proactiveinvestors.co.uk/companies/rns/327/LSE20181120070014_13872726/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/327/LSE20181107070005_13857588/ Wed, 07 Nov 2018 07:00:05 +0000 https://www.proactiveinvestors.co.uk/companies/rns/327/LSE20181107070005_13857588/ <![CDATA[RNS press release - Total Voting Rights ]]> https://www.proactiveinvestors.co.uk/companies/rns/327/LSE20181106070009_13855925/ Tue, 06 Nov 2018 07:00:09 +0000 https://www.proactiveinvestors.co.uk/companies/rns/327/LSE20181106070009_13855925/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/327/LSE20181025070007_13841621/ Thu, 25 Oct 2018 07:00:07 +0100 https://www.proactiveinvestors.co.uk/companies/rns/327/LSE20181025070007_13841621/ <![CDATA[RNS press release - Publication of segmental reporting information ]]> https://www.proactiveinvestors.co.uk/companies/rns/327/LSE20181025070003_13841553/ Thu, 25 Oct 2018 07:00:03 +0100 https://www.proactiveinvestors.co.uk/companies/rns/327/LSE20181025070003_13841553/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/327/LSE20181022070007_13836502/ Mon, 22 Oct 2018 07:00:07 +0100 https://www.proactiveinvestors.co.uk/companies/rns/327/LSE20181022070007_13836502/ <![CDATA[RNS press release - Total Voting Rights ]]> https://www.proactiveinvestors.co.uk/companies/rns/327/LSE20181009070008_13820897/ Tue, 09 Oct 2018 07:00:08 +0100 https://www.proactiveinvestors.co.uk/companies/rns/327/LSE20181009070008_13820897/ <![CDATA[News - Entertainment One fails to provide much sizzle ]]> https://www.proactiveinvestors.co.uk/companies/news/205840/entertainment-one-fails-to-provide-much-sizzle-205840.html FTSE 250 media firm Entertainment One PLC (LON:ETO) has issued a “steady as she goes” half-year trading update.

The Peppa Pig licence owner said trading in the six months to the end of September has been consistent with trends outlined at the start of the financial year.

READ: Peppa Pig the star performer once again for Entertainment One as profits climb

The group said it expects the full-year financial performance will be in line with management expectations, with a similar first half/second half weighting to the previous fiscal year.

Peppa Pig, Dr Dre and DJ Khaled in the same RNS...

Entertainment One is truly down with the kids in today's trading update:https://t.co/cUYhQa5EjF

$2bn library valuation. £64m impairment charge, mostly linked to assets in film distribution business.

— Daniel Coatsworth (@SharesMagDan) September 27, 2018

The Family & Brands division continues to perform strongly, helped by the delivery of new episodes of Peppa Pig to broadcasters this year.

The annual independent library valuation has been completed and the value of the group's library assets has increased to US$2.0 billion as at 31 March 2018 from US$1.7bn a year earlier, driven by a broad improvement across the group's Family & Brands and Television operations.

"Entertainment One continues to execute its strategy to build a portfolio of the highest quality content. We continue to seek out strong creative partnerships, in line with our vision of building the leading talent-driven entertainment company in the world. Our momentum remains strong, supported by long-term industry trends and new territorial opportunities,” said Darren Throop, the chief executive of Entertainment One.

“The group's ongoing commitment to investing in its content portfolio has driven current year earnings and created future value, reflected in another increase in the independent library valuation.

“The financial performance of the business remains in line with management expectations for the year,” he added.

Shares in Entertainment One were 1.4p lower in early deals at 380.8p.

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Thu, 27 Sep 2018 08:49:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/205840/entertainment-one-fails-to-provide-much-sizzle-205840.html
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