28 Aug 2014 14:30
DCD Media Plc
("DCD Media" or the "Group")
Trading Update
DCD Media announces that it will release its interim results for the six months ended 30 June 2014 at the end of September 2014 and in advance of this provides the following update.
During the first half of 2014, the Group traded in line with the Directors' expectations and, as set out in the announcement of the Group's final results for the year ended 31 December 2013, the Board has continued to focus on developing the rights and licensing division and rationalising the production entities whilst building a sustainable business. As anticipated, trading remains difficult in the production divisions, however, the Board remains cautiously optimistic.
DCD Rights continues to perform on budget and to grow through winning new distribution contracts both at home and overseas. Gross value of acquisitions to date this year is up by 30% on 2013 and the Group looks forward to new product launches at MIPCOM in Cannes in October.
CEO David Craven commented: "The Board is aware of the significant decline in the Group's share price over recent months and I would like to assure all shareholders that we continue to work to deliver sustained growth and shareholder value across a balanced business."
For further information please contact:
DCD Media plc
Tel: +44 (0)20 8563 9393
ir@dcdmedia.co.uk
Stuart Andrews or Charlotte Stranner
finnCap
Tel: +44 (0)20 7220 0500