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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Enter Rights. | LSE:ERT | London | Ordinary Share | GB0008138884 | ORD 5P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.08 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:3597Z Entertainment Rights PLC 03 June 2004 Entertainment Rights Plc Annual General Meeting At the Company's AGM this morning, Rod Bransgrove, Non-Executive Chairman of Entertainment Rights plc, will make the following statement: "2003 was a year of considerable achievement with your company delivering on the strategy of developing the owned portfolio of properties alongside acquiring and exploiting third party brands. "We met market expectations in delivering a fifth consecutive year of record results with turnover increasing 22% to #29.5 million and underlying PBT increasing 85% to #1.6 million. "The higher margin wholly owned properties performed well during the year. "Basil Brush(R) saw revenue growth of 130%. In the UK the BBC commissioned a further 26 episodes as Basil achieved a 42% audience share. Research now places Basil as the number one character with boys aged between 7 and 10. Basil has now been sold to more than 50 countries, including Germany where the series will air on ZDF and the Disney Channel. "2003 was a strong year for Postman Pat(R). In the UK we started production of a brand new series of Postman Pat(R) for the BBC, we released the first new video and DVD in November 2003 and the first new episodes are due to air on the BBC this autumn. We enjoyed considerable retail success with revenue growth for Postman Pat(R) reaching 35%, a very credible performance in a year when the new series was not yet on UK TV. Internationally, the brand started its global roll out in Australia and Scandinavia. "We also made significant progress with Little Red TractorTM, a new brand, culminating in the launch of the first series on the BBC in January 2004. We are further developing this brand through an exciting product line-up and the forthcoming release of Videos and DVDs. Little Red TractorTM has already been sold to 120 countries and overall enjoyed revenue growth of 166% in 2003. "The success story with third party brands also continued. The Company benefits from valuable cash flow secured at low financial risk. Highlights in 2003 included the acquisition from Mattel of the rights to distribute the third BarbieTM feature film, BarbieTM of Swan Lake, outside of the USA and the award of the TV and home entertainment rights for Transformers Energon and Duel Masters outside the USA by Hasbro. "Since the end of 2003 I am pleased to report that your Company has made further significant strides. On 25 March 2004 we announced a transforming deal to acquire Filmation, a catalogue of 500 hours of classic animated programming from Hallmark including the rights in perpetuity to well-known global properties including He-Man and the Masters of the Universe, She-Ra, Fat Albert, Zorro and the Lone Ranger. Further I am delighted to have been able to report the successful acquisition by your Company of the international television and video rights to the fourth BarbieTM feature film, BarbieTM as the Princess and the Pauper. "The acquisition of Filmation provides your Company with a valuable presence in the US market as well as increasing the library to more than 1,700 hours of quality programming, firmly establishing Entertainment Rights as the number two independent children's and family intellectual property company in the UK. "This acquisition was enthusiastically backed by the Stock Market and I would like to thank existing shareholders for their support and take this opportunity to welcome the new shareholders. Filmation includes rights to over 30 characters and brands and offers excellent opportunities for reinvigoration and commercialisation on a global scale. Your CEO, Mike Heap and his team have recently returned from the USA where they have been progressing our plans for Filmation, we are convinced now more than ever that this is a great deal for Entertainment Rights. "In addition, we have continued efforts to maximise the value of the existing portfolio. Since the end of 2003 we have announced a plethora of international distribution deals for the wholly owned and third party properties as well as the commissioning of a second series of Little Red TractorTM by the BBC. "Last week we announced that we have successfully extended the Basil Brush(R) franchise into publishing with the launch of the Basil Brush(R) comic, which shipped 100,000 copies of its first issue. "I am delighted to draw your attention to this morning's announcement of a raft of new international licensing deals including the sale to Rai Sat, a leading broadcaster in Italy, of broadcast rights to the all-new series of Postman Pat(R) as well as numerous new deals for Duel Masters across the globe. "In just five years your CEO Mike Heap and his team have transformed your Company into a global player in the intellectual property market and I would like to take this opportunity to thank all the staff for their efforts in effecting this transformation. Filmation gives your Company the platform to accelerate faster and to continue to build a strong and sustainable business that consistently delivers value to the shareholders. I look forward to the future with confidence." Ends For further information contact: - Entertainment Rights Mike Heap, Chief Executive Officer 0208 762 6200 Elizabeth Gaines, Finance Director Julie King, Group PR Manager Bell Pottinger Corporate & Financial Charles Reynolds 0207 861 3232 Sarah Landgrebe About Entertainment Rights *Entertainment Rights Plc ("ER") is one of the UK's leading specialist media groups focussed on the ownership of high quality children's and family programming, characters and brands. *ER owns the rights to many classic characters including Basil Brush(R), Postman Pat(R), Little Red Tractor, He Man and Masters of the Universe, Fat Albert, She Ra, Ghostbusters, Zorro and The Lone Ranger. *Since 1999, when ER owned rights to just 50 hours of programming, ER's library has grown to over 1,700 hours of high quality children's and family programming. This includes rights to global brands such as Mattel's BarbieTM, Scholastic's CliffordTM, Hasbro's Transformers, Casper the Friendly Ghost and Felix the Cat. *ER has grown rapidly. Annual revenues have grown from #1.8m in 1999 to #29.5m in 2003, the last reported financial year. *High resolution images are available for the media to view and download free of charge from http://www.vismedia.co.uk This information is provided by RNS The company news service from the London Stock Exchange END AGMSSSFAESLSEEM
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