Magazine article Screen International

eOne's Box Office Up 46%

Magazine article Screen International

eOne's Box Office Up 46%

Article excerpt

eOne has reported strong growth despite reduced EBITDA.

Entertainment One has reported a robust first half of 2012 with group revenue growth in the period up by 8% to £220.5 million and theatrical box office up 46% year on year. However, EBITDA is down £10.2m.

The company released 89 films theatrically in the six month period ending 30 September 2012, up from 74 last year.

eOne's bullish interim results also report 138 half hours of television programming, up 89% from the comparative period, with new seasons ordered of Hell on Wheels, Haven and Saving Hope.

The outfit's independent annual library valuation is up 10% to $385 million and its operating cash flow of £60.8 million is up 59%.

However, the underlying EBITDA of £13.4 million was behind the £23.6m same period last year, which eOne put down to "the timing of increased investment, which has driven printing and advertising ('P&A') costs up 30% in the first half, and the phasing of revenue from LoveFilm in the UK which was weighted more heavily to the first half in the prior year". …

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