Germany's Senator doubles revenue
Rise attributed to growth in local distribution, int'l prod'nCOLOGNE, Germany -- Germany's Senator Entertainment doubled revenue and booked a small pretax profit last year, thanks to a development the company attributed to the rapid expansion of its German distribution and international production businesses.
Senator earned 68.4 million euros ($105 million) last year, compared with 35 million euros in 2006, and booked an EBIT profit of 1.8 million euros ($2.7 million) compared with 70,000 euros in 2006.
Senator released 24 titles in Germany last year, compared with just six in 2006. On the international production side, Senator has delivered its first English-language title, the Julia Roberts starrer "Fireflies in the Garden," and is set to release its second, the Bret Easton Ellis adaptation "The Informers," in the fall.
For this year, Senator is forecasting sales of at least 85 million euros and an EBIT slightly above 1 million euros.