Media Wrap: uncertain markets trigger mixed news from Euromoney Institutional Investor, Entertainment One and ContentFilm

Wednesday, Jul 21 2010 by
1
Media Wrap uncertain markets trigger mixed news from Euromoney Institutional Investor Entertainment One and ContentFilm

Euromoney Institutional Investor (LON:ERM), the FTSE 350 publishing, events and electronic information group, saw its shares edge down slightly to 586p this morning on news that a much improved third quarter trading performance could be muted by a more uncertain outlook for the final quarter of the year. EII said that total revenues for the all-important three months to June 30, had increased by 16% to £97.9m, driven by a good performance from its event businesses and a continued recovery in advertising revenues. In particular, a strategy of building large must-attend annual events in niche markets, and cutting lower margin events in a downturn, has ensured that as markets recover many of EII’s bigger events have seen a rapid recovery to pre-credit crisis revenue levels or better. However, market uncertainty still remains and there are signs of a slowing in the rate of growth of sales of advertising and delegates. The group said this meant that the overall rate of revenue growth in the fourth quarter will be less than the third.

Elsewhere, Entertainment One Ltd (LON:ETO), the company that specialises in the acquisition, production and distribution of film and television content, reported another successful quarter in the three months to June 30, with reported revenues up 16.7% (5.3% on a constant currency basis) driven by strong trading in both the film and TV businesses. Distribution continued to trade in line with last year. Entertainment One, which switched its listing from AIM to the Official list last week, said sales of the successful Twilight Saga films had helped to catapult its UK film business to the number one independent film distributor in the UK. Looking ahead, the company said it was trading in line with management expectations and was expecting to deliver the anticipated growth through further successes in its film and TV businesses. Shares in Entertainment One rose by 2.5% to 80.5p.

Finally, Contentfilm Plc (LON:CFL), the film, TV and digital media rights owner, reported a 12.7% decline in revenues to £18.4m in the year to March 31, with pre-tax profits of £0.3m against a loss in 2009 of £17.5m. Last year’s figures were impacted by significant write-downs connected to a restructuring of the company’s US film division. ContentFilm described today’s results as “positive” given difficult market conditions, particularly in Europe. Chairman, Alton Irby, said it…

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Euromoney Institutional Investor PLC is an investment holding company. The Company is a business-to-business media company, which is focused on the asset management, banking and commodities sectors. Its segments include Asset management; Pricing, data and market intelligence; Banking and finance, and Commodity events. Asset management and pricing, data and market intelligence consist primarily of subscription revenue. Asset management includes the brands and businesses that serve the asset management industry across the world. Banking and finance consists of both sponsorship income and delegates revenue. It provides market intelligence, news, training and conferences to the finance industry across the world. Commodity events consists primarily of delegates revenue. It consists of various conferences in the metals, agriculture, energy and wine sectors. The Company provides economic and investment research and data under brands, including BCA Research and Ned Davis Research. more »

LSE Price
1494p
Change
0.5%
Mkt Cap (£m)
1,632
P/E (fwd)
18.2
Yield (fwd)
2.3

Entertainment One Ltd is a Canada-based independent entertainment company. It develops, produces, markets and distributes content. The Company's segments include Film, Television, Music, Family and Brands, and Innovation. The Film segment in collaboration with partners develops, acquires, produces and finances film content. The Television segment through partnerships and global distribution network produces and distributes television content. The Music segment built musical brands, as the Company is part of the network eOne Management Group. The Family and Brands segment is involved in the creation of family content and develops, launches and roll out content-related products. The Innovation segment provides digital content, such as virtual reality (VR) and the platform to discover it. more »

LSE Price
571p
Change
0.3%
Mkt Cap (£m)
2,845
P/E (fwd)
20.3
Yield (fwd)
0.3



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