Entertainment One to expand film business in Canada
LONDON (Reuters) - British audio and visual media group Entertainment One Ltd posted an unchanged first-half loss that met company expectations, and said it would continue to expand its Canadian film business.
Chief Executive Darren Throop also said he remained confident about the company's outlook despite wider economic uncertainty, given a strong second-half line-up including films such as Twilight, Knowing and Pride and Glory.
On September 24, the Cayman Islands-based company acquired Canadian TV production and distribution businesses Barna-Alper, Blueprint, Oasis and Maximum for 28 million pounds ($42 million) to expand its business in the North American market.
Entertainment One shares were indicated up 7.7 percent at 35 pence in early trading, moving away from the record low at 32 pence seen earlier this week. The company listed on AIM in March 2007 when it placed shares at 100 pence.
The London-listed distributor of home entertainment products, television programs and music content in North America reported a half-year pretax loss of 5.5 million pounds for the six months to September 30, after a 5.4 million loss a year ago.
"The overall performance of the group was in line with our expectations and reflects our growth in filmed entertainment," Throop said. (Reporting by Martina Fuchs)
