SIS Financial Results

15 Aug 2007 10:20

Catalyst Media Group PLC15 August 2007 Catalyst Media Group Plc ("CMG" or the "Company") SIS Financial Results CMG is pleased to announce that the financial results of Satellite InformationServices (Holdings) Limited ("SIS"), of which CMG owns 20.51%, have (today) beenpublished by SIS. For the financial year ended 31 March 2007, SIS generated revenue of £135.4million (2006: £127.6 million) and profit after tax of £16.8 million compared to£14.6 million in 2006, representing an increase of 15.4%. The growth in profit after tax throughout the year was principally due to theongoing success of SISLink and an increase in revenues derived internationally.The business has significantly strengthened its market positioning in bothRacing Services and its Uplink Division and revenue growth has been achievedacross all divisions. Long term contractual agreements are now in place with the majority of SIS'scustomers. From 1 April 2007 SIS has four year contracts with in excess of 8,000bookmakers representing over 75% of the total UK and Ireland bookmakers. Theremainder of SIS's UK and Irish bookmaker clients are on either existing fixedterm or rolling contracts, providing SIS with high visibility on futureearnings. These long term contracts underpin anticipated revenues from thelicensed betting outlets ("LBOs") FACTS service for the next four years. Thebusiness faces a number of competitive threats but the directors of SIS believethat the company is well placed to withstand these due to its pre-eminentposition in the market. The SISLink business is the single largest contributor to SIS groupprofitability, with about 35% of profits attributable to this division. SISLinkis one of the largest providers of transportable satellite uplink services inthe world, transmitting live coverage every year to broadcasting customersincluding Sky Sports News, BBC and ITN. CMG Chairman, Michael Rosenberg commented, "We are delighted by the success ofSIS. The business has proved yet again its ability to grow in two core sectors,the betting industry and the provision of outside broadcast satellite servicesand remains a highly cash generative business". Enquiries: Michael Rosenberg / Anna PrestwichCatalyst Media Group plc 020 7927 6699 James Harris / Angela PeaceStrand Partners Limited 020 7409 3494 This information is provided by RNS The company news service from the London Stock Exchange