Last checked at 2 Apr 2009 07:00
2 April 2009
Ten Alps Plc ("Ten Alps" or the "Company")
Pre-close statement
Ten Alps, the factual media company - producing TV, online and print - today gives the following pre-close statement for the year ending 31 March 2009.
Ten Alps is pleased to report profits growth for the year ended 31 March 2009 and that the results as a whole were in line with expectations.
The drive of output and commercial revenues from online content accelerated markedly during the year, which was second half-weighted, as noted in the interim results announcement of 8 December 2008.
During the year, margins improved and the online TV portfolio was strengthened. Ten Alps' factual TV output performed very well. The Company's business to business advertising was challenged but remained resilient. The small element of consumer advertising in Ten Alps' revenue mix has been affected by the recession, however the related downturn in third party events revenues was offset by the positive performance of owned events.
During March 2009, the Company completed a placing for gross proceeds of approximately £3 million, to invest primarily in the drive online and increase in output.
Ten Alps has subsequently begun to accelerate its online migration investment strategy, with a significant number of titles now being published first (or wholly) online, and migrating to online portals, which will be launched in the next three months. The migration process should be substantially advanced during this coming year, and the revenue mix of the group will therefore be reweighted towards a majority being from online sources.
The Company has embarked on a year-long programme looking to make large elements of its back-catalogue of 500 documentaries available online. This will mean investment in residual rights, clearance and an online catalogue.
The Company believes that overall, this online investment strategy will enhance group revenues and help to increase margins in the years 2010-11 onwards.
Alex Connock, Chief Executive of Ten Alps, commented "Ten Alps projects all have one thing in common: they are about the knowledge economy. Many are factual, or industry-specific, or both. If we judge them correctly, they will find a market, even in this recession. In fact - sometimes even because of this recession."
Ten Alps will report its results for the year ended 31 March 2009 on 15 June 2009.
Enquiries:
Ten Alps Plc
Alex Connock, CEO, c/o Moira McManus Tel: +44 20 7878 2311moira@tenalps.com www.tenalps.com
NOMAD: Grant Thornton UK LLP
Fiona Owen Tel: +44 20 7383 5100
Broker: Canaccord Adams Limited
Mark Williams / Adria Da Breo Richards Tel: +44 20 7050 6500
PR: Pelham
Alex Walters/Francesca Tuckett Tel: +44 20 7337 1500alex.walters@pelhampr.com Fax: +44 20 7337 1500
francesca.tuckett@pelhampr.com