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eOne forecasts growth on TV, Peppa sales

Entertainment One has pointed to significant growth in its TV sales and Peppa Pig units in a trading update.

Peppa PigFull year earnings are expected to be ahead of management expectations following strong numbers reported this morning.

This comes after AIM-listed eOne revealed an ambitious plan to double in size in the next five years.

eOne’s TV division revenues were up 36.8% for the nine months to December 31, 2014, offsetting a 13.5% decline at the company’s film unit.

Overall group revenues were down 5%, with digital sales up 22%.

While the numbers only covered nine months, eOne’s full year 2013 revenues were £819.6 million (US$1.2 billion) on underlying EDITDA of £92.3 million and profit before tax of £21 million.

Today’s trading update revealed eOne delivered 306 half-hours of TV for the nine-month period compared with 286 in 2013, and is on track to deliver 550 for the full year.

There has also been higher investment in acquired programming and production, while integration of new factual businesses Paperny Entertainment and Four Force Entertainment has “substantially” completed.

eOne recently bought a majority stake in Grey’s Anatomy firm The Mark Gordon Company for US$132.6 million, with the pair planning to launch a film and television production studio.

The eOne Family division, which houses the money-spinning Peppa Pig franchise was on track to deliver 100% year-on-year growth in revenues. Peppa alone is set to deliver more than US$1 billion in retail sales for the current financial year, eOne said.