Dori ups earnings, trimming costs

Dori Media’s revenues surged 70% in 2008 and the London-listed telenovela producer and distributor has instigated an efficiency drive that it expects will save it $4 million this year.

The company posted strong results for 2008 although growth slowed in the fourth quarter. CEO Nadav Palti told TBIvision that in response to the global economic meltdown it has embarked on a cost-saving push.

As well as scaling back travel costs and general expenses, Dori has dispensed with several staff. “We have done that and we want to focus on our core business, the Internet, TV channels and production and distribution,” Palti said.

Dori’s revenues for 2008 came in at US$51 million, a 70% year-on-year increase. EBIDTA profit was up 13% at US$14.7 million.

Revenue from telenovela production and distribution was up 3% to US$18.4 million.

Dori also operates several channels including telenovela offerings Viva and Viva Platina. Channels revenue was US$29.7 million and Palti said it will launch a new channel concept in Israel and international markets later this year.