Revenue, profits slide at Jetix<br />
Kids' channels group net profit down 44%
LONDON -- Pan-European kids channels group Jetix revealed a 44% drop in net profit on Thursday to 21 million euros ($26 million) for the 12 months ending Sept. 30 on revenue down 18% to 136 million euros ($171 million).
Operating profit was narrowed by 48% to 13 million euros ($16 million), while EBITDA fell 27% to 51 million euros ($64 million).
Disney-owned Jetix, which airs such shows as "Yin Yang Yo" and "Power Rangers," added 1.8 million homes, bringing its distribution to 53 million homes in Europe.
Chief executive Paul Taylor said that the top line has been affected by a number of poorly performing deals, lowered subscription revenue and currency fluctuations.
The company's revenue outlook for 2009 is "broadly flat" with 2008, assuming current exchange rates, but costs are predicted to be higher in 2009 relating to a number of strategic initiatives.