DQ Ent raises 2008-09 revenues
Indian animator points to co-prods and IP ownershipHONG KONG – Diversification and greater IP ownership helped revenues at Indian animation producer DQ Entertainment climb by a third to hit $32.2 million in the year to March.
Pre-tax profit dropped from $7.4 million to $5.1 million, though the previous year's result was inflated by a large non-recurring item and a like for like comparison showed profits rising 70% from $3.0 million. Cash flow (EBITDA) was up 92% at $13.9 million.
The London-listed company continued to pull away from sub-contracting and move instead into greater development and control of the properties produced at its 12 studios in India and the Philippines. Many are being packaged as co-productions.
After the year end it signed a co-production deal with France's Moonscoop to produce a "Jungle Book" cartoon and another with Classic Media to produce a "Lassie" series. In India it is co-producing a trio of TV movies with Turner Entertainment.
Order books for the next two years stand at $93 million.