Entertainment One ups revenues, preps acquisitions

Producer and distributor Entertainment One upped revenue and profit in the year to end-March and said it will expand into new territories and make content acquisitions in the coming year.

The company reported a 12.1% increase in revenue of £469.7 million (US$757.6 million). Pre-tax profit increased 39.2% to £32.3 million. The company reduced its debt load by £24.6 million, taking the total to £38.6 million at end-March.  It bought Australian distributor Hopscotch for A$20 million (US$21 million) in April and, having also raised £16 million from a UK share placement in March, is ready to make further acquisitions.

“The recent acquisition of Hopscotch adds to our growing international footprint and we continue to look for further territories to expand the network,” said CEO Darren Throop. “In accordance with our stated strategy we anticipate making further progress over the coming year through focusing on increased investment in quality content and acquisitions.”

On the TV side of the business, eOne has seen its drama series Rookie Blue, Haven and Call me Fitz renewed for second seasons and had success with zombie series The Walking Dead.

It is now shopping Hell on Wheels, the upcoming western that will debut on US cable channel AMC. eOne is selling the series internationally, with Endemol selling it on behalf of eOne in Europe.