TV numbers up at eOne as overall profits fall

Producer and distributor Entertainment One (eOne) posted healthy increases in profit and revenue at its TV division in the six months to end-September as overall company-wide profits declined.

The company’s TV unit was boosted by shows including Rookie Blue, Hell on Wheels and reality series Sugar Stars. Another key title was Haven, the drama series that US cable net Syfy just announced over the weekend has been renewed for a fourth season.

Looking ahead eOne said it is developing TV projects based on Stanley Kubrick screenplays Downslope and God Fearing Man and another show, Black Jack, from Astro Boy creator Osama Tezuka.

In kids TV, eOne’s key property Peppa Pig continued to perform well with new toys rolling out in the period and new TV deals inked throughout Asia.

TV revenue was £59.1 million, a 70% year-on-year increase. EBITDA profit was up 39% at £9.6 million. The company said it invested £48.4 million in content in the six months to September, a 17% increase on the amount spent in the same period a year earlier.

Meanwhile, company-wide profit declined. EBITDA for the period was £13.4 million compared with £23.6 million a year earlier and pre-tax profit fell to £8.8 million from £18.8 million.

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