VCL first-half figures don't disappoint
EmptyCOLOGNE, Germany -- After months of delays and rumors of fiscal disaster, German home entertainment group VCL Film + Medien released its 2007 first-half figures Monday to a qualified sigh of relief.
While sales in the first half slipped to €5.6 million ($8.3 million) from €5.9 million over the same period last year, operating profits (EBITDA) jumped from 307,000-522,000 euros ($762,000). VCL did not release EBIT or net profit figures.
VCL shares jumped 0.14 euros ($0.20) to 0.72 euros ($1.05) on the news, a 24% boost for the battered stock. VCL shares have been on a downward slide since the beginning of this year, when shares were trading at about 1.40 euros.
For the full year, VCL is forecasting 9.9 million euros ($14.4 million) in sales and an EBITDA profit of 1.1 million euros ($1.6 million), results that would be on par with the company's 2006 performance.