|Master Investor Magazine
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The share price of FTSE 250 media firm Entertainment One (LON:ETO) has risen by 5.22% to 467.60p (as of 13:00 GMT) after it published a positive update for the year ended 31st March. The company said that the transition to film production was largely complete and had driven an increase in margins. Elsewhere in the group, both the Music and Family & Brands divisions saw 20% increases in underlying EBITDA.
CEO Darren Throop commented: “As we continue to focus on unlocking the power and value of creativity, Entertainment One has delivered a solid performance for the year, driven by strong momentum in Television, continued growth in Family & Brands and with the restructuring of Film having a beneficial impact on the slate and margins. As such, the financial performance of the business is in line with management expectations for the year.
“FY19 was an important year in the implementation of our strategy, which has been developed to capitalise on the dynamics of a rapidly evolving media landscape. We are pleased to have seen the benefits of these strategic actions bearing fruit across all Group’s divisions“.