Entertainment One Reports Full-Year Earnings Ahead of Expectations
The Canada-based "12 Year a Slave" distributor, in an upbeat trading update, raised its guidance to investors.
TORONTO – Canadian producer-distributor Entertainment One on Thursday reported revenue for the 10 months ending on Jan. 31 rose 56 percent on film and TV growth.
As the London Stock Exchange-listed company released a trading update, the 12 Years a Slave distributor also raised its guidance and indicated full-year earnings are expected to be "ahead of management expectations."
eOne also pointed to added cost savings after acquiring and integrating Alliance Films, the Canadian film distributor.
The company released 235 films in the period, up from 167 last year, and film revenues for the 10-month period were 65 percent ahead of last year.
Next year's slate includes the theatrical releases of The Expendables 3, The Hunger Games: Mockingjay Part 1, Tarzan, Pompeii, Divergent, The Hundred Foot Journey and Nativity 3.
And TV division revenue was 34 percent higher than the same period last year, as eOne delivered season two of Saving Hope, season three of Hell on Wheels and season four of Haven.
eOne is the largest film distributor in Canada and the largest indie film distributor in the U.K. and the Benelux.