(Alliance News) - DCD Media PLC on Thursday said its performance improved in the first half of its current financial year, thanks to the acquisition of new TV content.
The London-based television production company said revenue for the six months to the end of September grew to GBP5.8 million from GBP3.6 million reported a year earlier, with pretax profit rising to GBP240,000 from GBP161,000.
The company said it continued to acquire high quality TV content across a range of genres in the first half of its financial year. As the business acquired new titles in the catalogue, buyer engagement has improved, DCD Media noted, particularly so given the strength of the acquisitions in the drama genre.
"We are pleased to report that strong momentum from trading achieved in the first calendar quarter of 2020 has continued into our 2021 financial year," said Executive Chair David Craven.
"The board remains focused on evaluating additional third-party funding sources to help leverage more licensed content and further increase the hours of TV content on offer to buyers," added Craven.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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