Edison | Sep 30, 2016 04:06AM ET
Entertainment One Ltd (LON:ETO) has had a strong first half operationally and, with a good pipeline in Television, Film and the ongoing roll-out of the Family brands internationally, is on track to deliver on its underlying full year expectations.
The annual independent library valuation has been updated and has increased by approximately 50% to $1.5bn (£1.2bn), covering the greater part of eOne’s market value, leaving little in the rating for its extensive production and sales network.
On track for the full year
eOne has had a strong operating performance in the first half of the year, with the underlying trends of each division developing in line with management’s expectations for the full year. All divisions have had a good period: Television is on track to deliver 1,100 half-hours of content for the full year, benefiting from three new commissions, the Renegade acquisition and a strong performance from international sales.
The Mark Gordon Company (MGC) has started delivery of the first show under the new independent studio model, Designated Survivor, which has debuted very well. In Family, Peppa continues its international roll-out with the US merchandising programme ahead of plan, a good start in China and newer brand, PJ Masks, also developing well. Film has had a number of high-profile releases in H1 and management continues to work towards its FY18 target of £10m of annualised cost savings.
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