DCD Media PLC Trading Update (5901F)

TIDMDCD

RNS Number : 5901F

DCD Media PLC

13 November 2015

DCD Media Plc

("DCD Media", the "Company" or the "Group")

DCD Media Trading Update

DCD Media, the independent TV distribution and production company, provides an update on current trading pursuant to the interim results published on 30(th) September 2015.

The overall trading performance for the full year remains on course, however challenging trading conditions are effecting commissions and are likely to impact earnings in 2016 in the production division.

Following two successive commissions for the primetime comedy game show Celebrity Squares, DCD Media has been informed by ITV that a third series will not be commissioned for 2016. While the show may be re-commissioned in the future; the loss of the revenue will impact performance for the Group in 2016. The Board stresses however that the Group is encouraged by its strong pipeline of opportunities in the production division.

As previously announced, certain directors' and accounting services are provided by the Company's parent, Timeweave Ltd (Timeweave) and recharged to DCD Media in line with previous years and this amounts to a total of GBP423,000. In addition, an amount of GBP152,000 of recovered VAT is owed to Timeweave. While the directors have carefully managed cash flow over the year, it is likely that the amounts due to Timeweave will need to be settled by DCD Media by issuing further convertible loan notes to Timeweave, as occurred in 2014.

For further information please contact:

Angelica Tziotis

Investor Relations/ Media Relations

DCD Media plc

Tel: [phone]

[e-mail]

finnCap

Stuart Andrews or Carl Holmes

[phone]

This information is provided by RNS

The company news service from the London Stock Exchange

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November 13, 2015 02:00 ET (07:00 GMT)