Germany's Constantin Medien Cuts Losses in 2014
The group, which owns 'Resident Evil' producer Constantin Film, also boosted revenue 6 percent.
Constantin Medien, the group that controls German mini-major Constantin Film, booked another loss last year, though there was less red ink than expected.
Losses attributable to Constantin shareholders hit $3.6 million (€3.3 million) in 2014, down from an €11 million loss in 2013 and better than the company had forecast.
Constantin's film division was helped by a series of profitable local-language comedies, first among them Suck Me Shakespeer, which bowed in Nov. 2013 but continued to earn money throughout early 2014. In total, the politically incorrect school-days comedy grossed more than $71 million in Germany alone.
Constantin also had success with local comedy Mannerhort, which earned some $11.5 million locally, and children's film Five Friends 3 ($9.5 million). That helped soften the blow for Constantin overall. The company had initially forecast losses of $7.6 million-$9.8 million (€7 million-€9 million) for the year.
Sales at Constantin were strong, with preliminary revenue figures up 6.4 percent to $529 million (€487.8 million).