Splendid Medien paints it black
Net profits up amid harsh timesCOLOGNE, Germany - German rights group Splendid Medien on Monday posted a slight profit and strong revenue growth for the nine months ending Sept. 30, in the midst of a global economic downturn.
Splendid booked net profits of 500,000 euros ($630,000) in the first three quarters and sales jumped about $5.5 million to $30 million.
For the full year, Splendid is forecasting around $42 million in revenue and an EBIT profit of between $2.3 million and $2.9 million.
Splendid had announced plans to buy back up to 10% of its own shares this year to use as capital to acquire other companies but dropped that idea in early November.