Entertainment One Ltd Trading Statement
28 September 2007
Entertainment One Ltd.
Pre Close Update / Notice of Interim Results
Entertainment One Ltd ("Entertainment One" or the "Company")(LSE:ETO), a leading international filmed entertainment distributor, confirms that it will announce its interim results for the period ended 30 September 2007 on 5 December 2007.
Since Entertainment One's launch on the London market on the 29 March 2007, it has made considerable progress executing the Company's strategy of building on its North American base and expanding into the international filmed entertainment rights and distribution market.
The acquisitions of Seville Pictures, a leading film distribution company in the Canadian market, and Contender Entertainment, a leading independent distributor of filmed entertainment in the UK, demonstrate the opportunities that exist for the Company.
In addition, the Directors believe that the announcement of the partnership in Canada and the UK with Summit Entertainment is a validation of the strength of a multi-territory film distribution proposition for both independent studios and producers. The Company remains excited about the prospects for this and other potential commercial partnerships.
Trading across the Group remains positive with robust margins and strong performances from recent acquisitions. The filmed entertainment market has enjoyed a good year with US box office revenues up 7.2% supported by a number of high profile releases including Pirates of the Caribbean, Spiderman 3, and Shrek 3. The Company is confident that this should provide a strong platform for its performance in the second half of the year.
| Darren Throop (CEO) Tel: +1 (905) 282 7878 Email: dthroop@entertainmentone.ca |
Giles Willits (CFO) Tel: +44 (0)20 7004 2755 Email:gwillits@entertainmentone.ca |
| Collins Stewart Europe Limited Capital Tel: +44 (0)20 7523 8350 Seema Paterson |
Kaupthing Singer & Friedlander Markets Limited Tel: +44 (0)20 3205 7500 Marc Young |
Entertainment One Ltd. (LSE: ETO) Admitted to trading on AIM on 29 March 2007, Entertainment One Ltd.'s strategy is to build the leading international independent entertainment content ownership and distribution business which acquires films, television programs and music content and exploits these rights in all media throughout the world. Entertainment One is the largest distributor of home entertainment products in the Canadian market and following the acquisition of Seville Entertainment in Canada in August 2007, it also has a significant presence in the theatrical and international sales markets. Following the acquisition of Contender in July 2007, Entertainment One also owns a leading independent UK distributor of filmed entertainment. The company also owns Koch Entertainment, the largest independent record label in North America and a leading independent distributor of music and video in the United States.