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Ten Alps warns on full year results

The TV and multimedia content producer says FY results will fall “materially” below market expectations
Entrance to BAFTA building
There'll be no award for financial performance this year

TV production company and recent BAFTA winner Ten Alps PLC (LON:TAL) has warned its full year results will be much worse than expected.

“The directors believe that the company will fall materially behind market expectations”, the company said in today’s trading update.

Ten Alps trades as Zinc Media and won a gong for Best Factual Series only last week, but continued problems within its publishing division are to blame for the weak outlook.

“The group has continued to sustain losses in certain parts of its publishing operations.

“These continued losses are likely to result in the group not being profitable for the year as a whole, albeit the directors do expect some improvement on the losses recorded in FY15.”

As a result, parts of publishing business are likely to be sold over the coming months.

The television and communications divisions are “operating profitably” while its latest acquisition, Reef, is also trading well, Ten Alps said.

Shares fell 0.94p or 47% to 1.06p.

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Zinc Media Timeline

July 01 2016

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