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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Datatec | LSE:DTC | London | Ordinary Share | ZAE000017745 | ORD ZAR0.01(DI) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 310.00 | 285.00 | 335.00 | - | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
Date | Subject | Author | Discuss |
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11/10/2005 08:34 | whats another year or two!!!!!coming up to my 4th anniversary with this one!!! | issie | |
11/10/2005 08:20 | yes like you MM :) | jmillskeel | |
11/10/2005 08:04 | LOL. Glad to know you agree with your own posts jmillskeel. | michaelmouse | |
11/10/2005 07:59 | Yes Tom a seller, how sad is all this.. | jmillskeel | |
11/10/2005 07:58 | I wasn't expecting Finals today and agree more jam. Why can't they make a fuxking profit and do us all a favour. China. | chinakett | |
11/10/2005 07:50 | Disappointing that we are not at break-even yet. However, performance continues to improve and David Elstein is and will manage expectations sensibly. I will continue to accumulate. | michaelmouse | |
11/10/2005 07:46 | thanks jmillskeel wise words from a seller? | tom2468 | |
11/10/2005 07:43 | More and yet more JAM.... I am off running for the hills | jmillskeel | |
11/10/2005 07:35 | thread updated (including USEFUL LINKS) | davidcod | |
11/10/2005 07:17 | not as bad as i thought but not as good as it should be. put em back in the bottom drawer for another year. | larry laffer | |
11/10/2005 07:15 | immediate thoughts please | tom2468 | |
11/10/2005 07:10 | Digital Classics PLC - Final Results •Website •Fundamentals •Share Price Embargoed: 0700 hours 11 October 2005 Digital Classics Plc ("Digital Classics" or the "Group") Final Results for the Year Ended 30 June 2005 Highlights * Turnover up by approx. £1 million on last year to £3.1 million * Gross profit improved by approx. £0.5 million to £1.6 million * Launch of new DVD label * Record profits in television production division * Successful merging of two distribution libraries, with cost benefits Chairman's Statement Introduction I am pleased to present the annual results for Digital Classics for a period that has seen some significant developments. Most notably, the Group has successfully merged and streamlined its two distribution libraries into one to form the largest library of audio-visual classical music and arts programmes and DVDs in the world, whilst the television production division has produced record profits. Towards the end of the year a new initiative was created - the Digital Classics DVD label, for which the Directors have high hopes for the future. Financial Review The Group's turnover during the period was £3,134,000, an increase of £980,000, or 45%, on 2004 (£2,154,000). Our Gross Profit was £1,629,000, an increase of £525,000 or 48%, on 2004 (£ 1,104,000). The pre-tax profit (before interest, goodwill and rights amortisation) was £ 34,000, in the same order as 2004 (£33,000). After interest, goodwill and rights amortisation, the Group's losses were £616,000 (2004 loss £590,000). The balance sheet shows improved net assets of £6,877,000, up £106,000, from £ 6,771,000 in 2004. As noted previously however, the Directors believe that this gives little idea of the underlying state of the Group's assets as, for instance, no valuation at all has been attributed to the valuable catalogue of programmes acquired from the former RM Associates Distribution Limited. Net current assets stand at £733,000, up from a net liability in 2004 of £ 7,000. Our underlying trading position is broadly in line with expectations, though as previously announced, certain revenues have been delayed into 2006. We had for instance expected to conclude the sale of the broadcast rights to Iambic's "Michael Jackson" documentary in the U.S. during the period; however, due to the singer's trial ending very close to the Group's year end, this event is likely to materialise in the current financial year. Review of Divisions Digital Classics Distribution Limited (DCD) DCD's year was one of consolidation, as the two libraries merged to form a formidable distribution business within the classical music and arts arena. By June, economies of scale had seen ongoing cost savings of an annualised rate of over £450,000 per year, though with notice periods, redundancies and other settlements, the main benefit is expected to come in the current financial year. A temporary effect of this wholesale re-organisation was a slight drop in anticipated turnover, though a bigger factor was the holding back of DVD rights which would otherwise have been sold to third-party labels, in order to release the titles ourselves to the greater benefit of the Group. DCD has begun to leverage its position as the largest distributor in its field, aiming towards a situation where new linear and on-demand television channels will carry nothing but its titles, and to this end has continued to acquire further new programming. New media such as IPTV, Video-on-Demand etc. is anticipated to be a significant area of new growth, though revenues are unlikely to be material during the year to June 2006. Digital Classics DVD At the end of the period under review, the company created its own-brand DVD label, raising £760,000 in a limited placing for this purpose. The label is due to launch in time for the Christmas 2005 retail market, with a mixture of world-music, rock-based and classical titles. Further titles are intended to be released every month thereafter, contributing to a label that is expected to grow to be one of the largest of its kind within a relatively short time. The continuing double-digit annual growth in the retail DVD market, combined with tumbling costs for the production of DVDs, have made the creation of an own-brand label far more potentially profitable than licensing to third-party labels, as has been the practice hitherto. Digital Classics Education (DCE) This subsidiary had a quiet year largely due to the very slow uptake of the Government's Electronic Learning Credit Scheme, which provides funds for schools to buy digital products such as DC's "Music Suite". Nonetheless, renewal rates for Music Suite's annual licence are at over 90% and it remains highly praised by reviewers and schools, while its cost base is very low. A new module has been added for the 2005/6 academic year and DCE is in discussions with other parties with a view to maximising future sales. DCE also remains a member of a "preferred bidder" consortium for the BBC Digital Curriculum; this is a £50million six-year project. Although the BBC has not yet tendered for projects within DCE's range of genres, it is expected to do so shortly. Iambic Productions Limited (Iambic) Iambic had its best-ever year in terms of pre-tax profit and margin, despite turnover being lower than expected. Its Michael Jackson documentary, completed and paid for in the previous year by those broadcasters which made early commitments to it, made no further sales during the period because of Michael Jackson's trial, whose verdict came too near the year-end to complete any licence agreements. 2006 is therefore set to benefit from revenues previously expected in 2005. Iambic produced programmes about The King's Singers, piano virtuoso Richard Meyrick and Stuart Sutcliffe, John Lennon's closest friend and an original member of the Beatles. It also made its third "Abba" programme for ITV, generating gross profit of over £450,000 for its three pre-sales during the year. Further sales of this programme, as with the Michael Jackson film, fall into 2006 and beyond. Iambic's planned televising of the World Poker Masters tournament was delayed by the Tsunami; originally planned for Langkawi in the Indian Ocean it has finally been re-located to Northern Spain. It is in the nature of television schedules that production dates are subject to events outside a producer's control; one other project planned for 2005 has also moved across the year-end to 2006, though the effect of this on turnover was dampened by a smaller project moving the other way. Iambic's major post-balance sheet event has been the setting up of a new division called IP Entertainment, headed by a producer with a successful track record including "I'm A Celebrity, Get Me Out of Here", "Celebrity Love Island", "Poor Little Rich Girls" and other similar series. This is a low-cost entry into the potentially lucrative areas of early-evening mainstream entertainment and foremost entertainment formats, and IP Entertainment is already in discussion with major broadcasters about new projects. Digital Classics.tv This division has, in the period, begun to reposition itself in order to take advantage of the new broadband broadcasting opportunities as well as to enable the Group to sell its own DVDs directly to the public and its television shows directly to broadcasters. Outlook There are a number of opportunities to improve performance in the current year. These include, as noted above, economies of scale of over £450,000 in DCD, first turnover from the new DVD label, and the benefits from the sales of Iambic's major completed programmes, including its Michael Jackson documentary. I congratulate Chris Hunt, our Chief Executive, on his skilful handling of the complex issues relating to the absorption of the RM distribution business, whilst driving a further improvement in Iambic's performance. The Group remains vigilant as to costs and will continue to pursue growth across its divisions - the DVD label and IP Entertainment are examples of this. The Directors are also considering expansion through acquisition, though this will only be undertaken if demonstrable benefits to shareholders are expected to ensue. I hope that my own years of experience in this area may be of help to the Group. Digital Classics has taken further strides forward during the year to June 2005, and every year its performance improves. The Directors are determined however that its progress will not merely continue but accelerate. There will be no easing up of efforts and we remain fully committed to maximise value for our shareholders. David Elstein Chairman | kenway | |
10/10/2005 21:58 | Post removed by ADVFN | shirishg | |
10/10/2005 19:54 | Hope so Tom it's sooo boring waiting. MJ made an appearance in London, but still no appearance of any figure from sale of the MJ holy grail. Mind you another new TV channel tonight and it only reaffirms that whether DTC produce the goods, they can't really blame the sector they are in, as demand for content grows and grows. | investorjon | |
10/10/2005 19:00 | my waters say news tomorrow | tom2468 | |
09/10/2005 22:45 | Still MJ out and about, maybe this old sea dog will one day find gold? | johnmp | |
09/10/2005 21:13 | worth buying any more? Usually a good time when things are so -ve! (Do n't think i' got the bottle as anyone else?) | quickpix | |
07/10/2005 20:05 | IJ - I don't know anybody who's worried about a share price do you? However, I do wish you and your real or imaginary friends would use a teenage chat room when you're not talking about DTC. Your recent posts speak volumes my 'old'(LOL)friend. | michaelmouse | |
07/10/2005 20:04 | Abubryn: I think some use Chidlings, some chitlins, chitterlings and probably a few others. I looked up one definition that said they were boiled pigs intestines, but I use to have them fried. I referred to DTC because of my interest in survival. | investorjon | |
07/10/2005 19:41 | Investorjohn. I think I can C Chitlings with a T not a D. Is that why you bought dtc ? You mean cows intestine I presume? | abubryn |
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