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Trading Update

13 Nov 2015 07:00

RNS Number : 5901F
DCD Media PLC
13 November 2015
 

 

 

 

 

DCD Media Plc

 

("DCD Media", the "Company" or the "Group")

 

DCD Media Trading Update

 

DCD Media, the independent TV distribution and production company, provides an update on current trading pursuant to the interim results published on 30th September 2015.

 

The overall trading performance for the full year remains on course, however challenging trading conditions are effecting commissions and are likely to impact earnings in 2016 in the production division.

 

Following two successive commissions for the primetime comedy game show Celebrity Squares, DCD Media has been informed by ITV that a third series will not be commissioned for 2016. While the show may be re-commissioned in the future; the loss of the revenue will impact performance for the Group in 2016. The Board stresses however that the Group is encouraged by its strong pipeline of opportunities in the production division.

 

As previously announced, certain directors' and accounting services are provided by the Company's parent, Timeweave Ltd (Timeweave) and recharged to DCD Media in line with previous years and this amounts to a total of £423,000. In addition, an amount of £152,000 of recovered VAT is owed to Timeweave. While the directors have carefully managed cash flow over the year, it is likely that the amounts due to Timeweave will need to be settled by DCD Media by issuing further convertible loan notes to Timeweave, as occurred in 2014.

 

For further information please contact:

 

Angelica Tziotis

Investor Relations/ Media Relations

DCD Media plc

Tel: +44 (0)20 8563 9393

ir@dcdmedia.co.uk

 

finnCap

Stuart Andrews or Carl Holmes

+44(0)020 7220 0500

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
TSTMMMMMLZGGKZM
Date   Source Headline
28th Feb 200710:27 amPRNNotice of Interim Results
22nd Feb 20073:27 pmRNSBlock lstng 6 monthly return
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18th Jan 20079:57 amRNSHolding(s) in Company
12th Jan 20075:00 pmPRNChange of Adviser
18th Dec 20062:39 pmPRNResult of AGM
18th Dec 20062:00 pmPRNAGM Statement
18th Dec 200611:53 amPRNTotal Voting Rights
14th Nov 200610:57 amRNSSpecial Offer to Shareholders
23rd Oct 200611:19 amPRNNotice of Results
5th Oct 20067:00 amPRNChange of Nomad & Broker
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2nd Aug 20067:00 amPRNTrading Update
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12th Jul 20053:58 pmRNSIssue of Equity
12th Jul 200510:59 amRNSHolding(s) in Company
6th Jul 20058:32 amRNSHolding(s) in Company

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