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2 Apr 2009 07:00
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2Β April 2009
Ten Alps Plc ("Ten Alps" or the "Company")
Pre-close statement
Ten Alps,Β the factual media company - producing TV, online and printΒ -Β today gives the following pre-close statement for the year ending 31 March 2009.Β
Ten AlpsΒ is pleased to reportΒ profits growth for the year ended 31 March 2009 and that theΒ resultsΒ as a whole wereΒ in line with expectations.Β
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 DecemberΒ 2008.Β
During the year, margins improved and the online TV portfolio was strengthened.Β Ten Alps' factual TV output performed very well.Β 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.
DuringΒ March 2009, the Company completed a placing for gross proceeds of approximately Β£3 million, to invest primarily inΒ the drive online and increase in output.Β
Ten Alps has subsequently begun to accelerateΒ its online migrationΒ investmentΒ strategy, withΒ a significant number ofΒ titlesΒ now being published first (or wholly) online, and migrating to online portals, which will be launched in the next three months.Β 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 CompanyΒ has embarked on a year-long programme looking to make large elements of itsΒ back-catalogue of 500 documentariesΒ available online.Β This will mean investment in residual rights, clearance and an online catalogue.
The Company believes thatΒ overall,Β thisΒ online investmentΒ strategyΒ willΒ 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. ManyΒ are factual,Β or industry-specific, or both.Β If weΒ judge them correctly, they will find a market, even in this recession. In fact - sometimesΒ even because of this recession."
Ten Alps will report itsΒ results for the year ended 31 March 2009 on 15 June 2009.Β
Enquiries:
Ten Alps PlcΒ
Alex Connock, CEO, c/o Moira McManus Tel: +44 20 7878Β 2311moira@tenalps.com www.tenalps.com
NOMAD: Grant Thornton UK LLPΒ
Fiona OwenΒ Tel: +44 20 7383 5100
Broker: Canaccord Adams LimitedΒ
Mark Williams / Adria Da Breo RichardsΒ Tel: +44 20 7050Β 6500
PR: PelhamΒ
Alex Walters/Francesca TuckettΒ Tel: +44 20Β 7337 1500alex.walters@pelhampr.com Fax:Β +44 20Β 7337 1500
francesca.tuckett@pelhampr.com
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