Sanctuary Group post 'positive' half-year results

The Sanctuary Group plc, the international media group specialising in the ownership and commercial exploitation of Intellectual Property Rights (IPR), have announced interim results for the six-month period to 31 March 2002.
The group reported a turnover increase of 41% to £49.8 million from £35.4 million in 2001, and pre-tax profits were up 26% to £2.9 million from £2.3 million in 2001. Normalised earnings per share were up 31% to 2.13p per from 1.62p last year.
Acquisitions during the period included Bravado International in January 2002 for £7.9 million, one of the world’s leading licensing and merchandising companies, with clients ranging from The Who to Eminem. The recent Bravado International acquisition, which is accounted for within Artist Services, contributed £8.6 million of turnover in the period. The group believe this was an "important step in our ability to further exploit intellectual property as well as providing another valued service we can offer to artists".
Andy Taylor, Executive Chairman, said: "I am very pleased to report that our strategy for growth is showing such positive results at the interim stage for all our divisions. Our proven low-risk approach to the music industry continues to produce robust results… and (with) an exciting new release schedule, we are in a strong position to benefit from our traditionally strong second half."
The period to 31 March 2002 saw steady growth as Sanctuary acquired complementary, "sensibly-priced" businesses, coupled with the continuing development of existing businesses and controlled geographical expansion.
The development of quality TV, DVD and video programming through Sanctuary Visual Entertainment is showing "considerable progress and a number of exciting and high-profile projects" will be announced shortly.
The focus on high-quality family entertainment with 'The Tribe' and 'Atlantis High' has been proved successful for the Screen division. Series Four of 'The Tribe' is showing now on Channel 5 and has been sold to Germany, adding to the US and Scandinavian territories. Series One of 'Atlantis High' finished its successful run in the UK and will air soon in the US on Encore’s ‘WAM!’ Channel, and ABC Australia has bought all four series of 'The Tribe' as well as 'Atlantis High' to launch their new ‘Kids’ digital channel.
The newest series, 'Revelations', is now in the final stages of production and will premiere in the UK on Channel 5 in September 2002. An ongoing anthology series in 26 half-hour episodes, the series targets a mainstream family audience with a teenage bias.
The Sanctuary Group plc, www.sanctuarygroup.com
(GMcG)