Film business boosts Entertainment One's April-May revenue over 50 percent
(Reuters) - Entertainment One Ltd (ETO.L: Quote) said revenue for April-May rose more than 50 percent due to a strong performance at its core film distribution business.
The company said revenue from its film distribution business rose 85 percent compared with a year earlier, due to a higher number of releases, including "21 and Over", "Scary Movie 5" and "The Big Wedding".
Entertainment One's film distribution business, which contributes about 82 percent to total revenue, was also propped by a slew of successful DVD releases such as "Haven", "Django Unchained" and "The Silver Linings Playbook".
"The company has had a strong start to the financial year and expects results for the financial year, which will incorporate a full year of Alliance Films, to be in line with management expectations," Entertainment One said in a statement.
Entertainment One, which bought Canadian film distributor Alliance Films Holdings last year, said it plans to release 250 films in its financial year ending March 2014, including "The Hunger Games: Catching Fire", "Now You See Me", and "Ender's Game".
The owner of popular British children's cartoon series "Peppa Pig," said Peppa Pig continued to perform well internationally.
Shares in the company, which also produces and distributes television content, closed at 186.5 pence on Thursday on the London Stock Exchange.
(Reporting by Tasim Zahid in Bangalore; Editing by Supriya Kurane)
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