Entertainment One shares rise on boost from Peppa Pig

Jessica Morris
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Entertainment bought another 35 per cent of Peppa Pig

Shares in Entertainment One ticked up 0.10 per cent to 213.30p this morning after the Peppa Pig maker revealed it was on track to meet expectations this year.

The film and TV distributor, which recently rebuffed a £1bn takeover bid by ITV, revealed an independent valuation of its library had risen to $1.5bn (£1.2bn) from $1bn. This was driven by a strong performance in its family division and the acquisition of another 35 per cent of popular children's TV show Peppa Pig.

Read more: Peppa Pig maker splashes cash on US deal

The London-listed firm added that a strong pipeline for television and films would underpin the second half.

The Canadian company's television division is on track to grow this year with the production and acquisition of around 1,100 half hours of content in the full year, it said.

Meanwhile, eOne's family division continued to benefit from the international roll-out of Peppa Pig, with the show surpassing six billion views on local on-demand platforms in China.

Read more: "It's Peppa Pig meets Saving Private Ryan..."

Releases such as the BFG and Woody Allen's Café Society helped its film division's box office totals rise to $151m. In the second half, it will release the widely anticipated Girl On A Train, based on a book by British author Paula Hawkins.

eOne added that its film division remains on track to make annual cost savings of $10m by the end of 2018.

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