LONDON (Alliance News) - TV and multimedia content producer Ten Alps PLC on Monday said it is closing its Ten Alps Media Ltd business.
Ten Alps Media comprises the group's London publishing business, which has been loss-making over a number of years. In the year ended June 30, 2015, Ten Alps Media made a revenue of GBP1.3 million and pretax loss of GBP332,000.
Ten Alps said the rest of the group remains unaffected. Following this exit, the group is left with its TV and digital divisions, as well as a smaller, self-contained publishing unit, all of which are trading profitably, Ten Alps said.
Shares in Ten Alps were trading down 7.8% at 0.415 pence on Monday morning.
By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews
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