Ten Alps pleased with performance

TV programme maker Ten Alps achieved growth in profits and margins in line with market expectations for the year despite the tough conditions. Pre-tax profit rose 5% to £3.3m despite revenue falling 1.5% to £80.2m as operating costs came in slightly lower.The group said the good performance was primarily due to the accelerated migration of the business online, more demand for factual TV, the B2B and public sector bias in the client base and the attention to costs. "2008-9 was a volatile economic landscape, but we met financial targets set out before the crisis - for which our managers and staff deserve great credit. We also strengthened our cash position," said the group.It will continue to drive the business online and aim to further increase margins in the 2009-10 year."The new financial year has commenced with a decent order book. However, it is too early to assume strong organic growth from existing customers. So this year we intend to continue migrating online, targeting further margin benefits and growth opportunities."