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Revenues and profit up sharply at eOne

Darren_ThroopEntertainment One has posted strong full-year results with double-digit increases in revenue and profit.

The UK-listed company said that it invested 6% more year-on-year in TV programming (excluding kids)  in the year to end-March, taking the total to £79.7 million.

The TV division, which covers scripted, reality and kids programme production and distribution, recorded revenue of £132.4 million, a 15% year-on-year increase. Profit was up 3% at £18 million.

Half of the TV programmes eOne delivered in the year were returning series, the company noted while new commissions included Thandie Newton cop series Rogue and Discovery Gold Rush drama Klondike. Upcoming shows include werewolf series Bitten and sci-fi offering The First Martian War.

Peppa Pig was the revenue and profit driver at the kids and family division. eOne has just picked up rights to Simon’s Cat and said it wants to further wide the number of kids and family brands in its portfolio.

Overall company revenue was £629.1 million compared with £502.7 million a year earlier. Pre-tax profit came in at £53.8 million compared with £43 million.

eOne said it plans to grow its content portfolio and expand its geographic reach.

Speaking to TBI before MIP TV in April, CEO Darren Throop (pictured) said there will likely be one or two acquisitions of TV firms as eOne expands.

“There is an opportunity for organic growth, but as I look across the TV sector I can see interesting potential acquisitions as well as partnership and coproduction opportunities,” he said at the time.