Go Back   Eurocardsharing > General Discussions > General Satellite News > Latest Satellite News

Latest Satellite News Discussion, Boomerang Plus profits down 19% at General Satellite News forum; Boomerang Plus profits down 19% 26 October, 2009 | By Katherine Rushton Welsh indie Boomerang Plus saw a 19% drop ...

LinkBack Thread Tools Display Modes
Boomerang Plus profits down 19%
Bacteria's Avatar
Posts: 96,015

Level: 124 [♥ Bé-Yêu ♥♥ Bé-Yêu ♥♥ Bé-Yêu ♥♥ Bé-Yêu ♥♥ Bé-Yêu ♥]
Life: 4638 / 4638
Magic: 32005 / 104933
Experience: 68%

Thanks: 1,107
Thanked 5,578 Times in 1,419 Posts
Join Date: Oct 2006
Age: 37
Boomerang Plus profits down 19% - 26-October-2009, 16:20

Boomerang Plus profits down 19%

26 October, 2009 | By Katherine Rushton

Welsh indie Boomerang Plus saw a 19% drop in operating profits in the year to 31 May because of delayed and cancelled projects, commissions which underperformed financially, and a general downward pressure on programming budgets.

Its operating profit fell from 1.40m in 2008 to 1.14m, whilst turnover dipped 5.6% from 20.93m to 19.76m. The figures follow a profits warning in July and were in line with adjusted expectations.

Boomerang, which last week acquired Amazon-producer Indus, also revealed in its results that it had spent 100,000 in relation to a failed merger, understood to be the deal with DCD Media which collapsed in April 2008.

However, the companys outlook remained positive despite the difficult year. Chief executive Huw Eurig Davies said Boomerang had a strong balance sheet, a diverse production base, and good visibility which would help it move forward.

Boomerang has enjoyed some very positive and exciting developments over recent months despite the tough financial climate.

We are very well positioned with good revenue visibility, a strong balance sheet and a market offering which is highly favoured by the regulatory environment. This provides an excellent platform for the next phase of the groups growth, he said.

In particular, Boomerang has a three-year production contract with S4C worth 12m, and nearly doubled its AFP revenue to 1m during the 12-month period.

More broadly, the company has pinned its hopes on broadcasters ambitions to secure more network content from the nations and regions, and hopes to a major supplier to UK networks looking to satisfy their quotas.

It has secured new network commissions from CBBC and Channel 4 during the period.

Reply With Quote


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Forum Jump

ECS on RSS ECS on Twitter ECS on Facebook ECS on Youtube
Follow us on:

Powered by vBulletin
Copyright 2002 - 2010, Jelsoft Enterprises Ltd.
SEO by vBSEO ©2011, Crawlability, Inc.