Eros International plc announces Trading Update and Indian Subsidiary Results
Eros International Plc ("the Group"), the leading global company for Indian filmed entertainment, announces a trading update to accompany the release of consolidated financial results by its subsidiary, Eros International Media Limited ("EIML") for the three months to 30 June 2011.
Group Trading Update
The Group continues to trade in line with market expectations and has seen a number of films theatrically released including: Ready, Murder 2 and Zindagi Na Milengi Dobara.
Operating cash flows remain strong with film content cash flow in line with expectations ahead of the major forthcoming releases of: Mausam, RA.One, Rockstar, Agent Vinod and Desi Boyz in the remainder of the financial year.
The results for the six months to 30 September 2011 are expected to be announced in early November 2011.
The financial (under Indian GAAP) and operating highlights of EIML for the three months ending 30 June 2011 are set out below. A copy of the full release will shortly be available at www.erosplc.com and the NSE and BSE websites.
Q1 2012 Financial Performance Highlights (compared to Q1 2011)
Total income increased 21.8% to Rs. 1,538.1 million (US$34.0 million) from Rs. 1,263.0 million (US$27.9 million)
EBIT increased 47.4% to Rs. 369.2 million (US$8.16 million) from Rs. 250.5 million (US$5.53 million)
PAT increased 60.3% to Rs. 233.3 million (US$5.16 million) from Rs. 145.5 million (US$3.22 million)
Basic EPS increased 9.2% to Rs. 2.37 (US cents 5.24) from Rs. 2.17 (US cents 4.80)
For further information, please contact:
Eros International Plc
Andrew Heffernan - CFO
Jamie Kirkwood - Head of Investor Relations & Special Projects
T: +44 (0) 20 7258 9906
Evolution Securities Limited
Jeremy Ellis / Chris Clarke, Corporate Finance
Matt Tyler / Jamie Richards, Corporate Broking
T: +44 (0) 20 7071 4300
Pelham Bell Pottinger
Nick Lambert / Victoria Geoghegan
T: +44 (0) 20 7861 3232
About Eros International Plc:
· Eros acquires, co-produces and distributes quality Indian film content, worldwide, across multiple formats
· Established in 1977 with a vision to become the gateway for Indian content worldwide and Hollywood content in India, Eros has over three decades of market experience in creating a global platform for Indian cinema
· In 2006, Eros became the first Indian media company to obtain a listing on the AIM Market of the London Stock Exchange
· In October 2010, Eros International listed its Indian subsidiary Eros International Media on the BSE & NSE in India. Eros operates in five continents and over 50 countries with offices throughout India, the United Kingdom, USA, UAE, Singapore, Australia, Fiji and the Isle of Man
This information is provided by RNS
The company news service from the London Stock Exchange
Datafeed and UK data supplied by NETbuilder and Interactive Data.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk!
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.