Entertainment One Narrows Loss on Higher Revenue
Canadian producer Entertainment One on Wednesday posted a narrowed loss for the first half of 2010, on higher revenue and reduced financing costs.
Toronto-based Entertainment One, which recently jumped onto the London Stock Exchange, reported a pre-tax loss of $4 million for the six months to Sept. 30, against year-earlier pre-tax loss of $12.5 million, on revenue up 30% to $337.4 million, compared to $260.4 million in 2009.
The latest frame included a one-time $2.8 million charge to move Entertainment One to the London Stock Exchange.
“The second half has started well and the pipeline of film releases and television productions remains strong,” Entertainment One CEO Darren Throop said in a statement on release of his company’s interim results.
Besides its filmed entertainment division, which includes U.S. series like ABC’s Rookie Blue and HBO’s Hung, Entertainment One is Canada’s largest wholesaler of DVDs, CDs and video games.