LONDON (Alliance News) - TLA Worldwide PLC on Tuesday reported sharp growth in profit in 2015 as it grew revenue in both its sports marketing and athlete representation divisions.
TLA said its pretax profit in 2015 multiplied to USD2.8 million from USD0.4 million in 2014, as revenue more than doubled to USD44.4 million from USD20.8 million.
Revenue in the sports marketing business grew to USD29.3 million from USD7.7 million, following the running of three events in the year. These were the first International Champions Cup in Australia, the USA vs Canada Ice Hockey tour of Australia, and the USA vs Australia Rugby test match in Chicago.
Baseball representation revenue increased to USD15.1 million from USD13.2 million, with 22 new baseball players added to the client list, taking the total client list to 289.
TLA will pay a total dividend of 1.0 pence per share, up from 0.8p the year before.
"Looking ahead, the momentum achieved in 2015 has continued into the new year. The events programme has increased to five compared to three in 2015, and we have added two new agents to the Baseball Representation business which will contribute to the future growth of this business. The board believes that the fundamentals of our businesses remain solid and as a result we look forward with optimism," Executive Chairman Bart Campbell said in a statement.
Shares in TLA were trading up 0.9% at 57.00 pence on Tuesday morning.
By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews
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