Peppa Pig owner Entertainment One reports trading in line with expectations and library valuation has grown

 
Caitlin Morrison
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Entertainment One owns popular children's TV show Peppa Pig (Source: Entertainment One)

Entertainment One, the company behind Peppa Pig, has reported trading is in line with expectations in the first half of the year, ahead of today's annual general meeting.

The firm is facing an investor backlash at the meeting, over plans to give its chief exec a no-strings £7.6m payout along with a bumper pay rise. Shareholder advisory firms Pirc and ISS have urged investors to vote against the proposed pay package.

The group said full year financial performance is anticipated to be in line with management expectations.

It also revealed that its independent library, which includes all of Entertainment One's television, family, film and music assets, has increased in value. As of 31 March, the value of the company's content library stood at $1.7bn (£1.3bn), up from $1.5bn at the same time in the previous year.

In its family division, Entertainment One said Peppa Pig retail revenues "continue to perform well in established territories, with growing momentum in its newer markets such as the US and China". The brand is "building rapidly" in China: the group reported initial revenue performance ahead of expectations due to an expansion of licensing and merchandising activities across a number of categories including toys, clothing and furnishings.

In the UK, the brand benefited from the release of Peppa Pig: My First Cinema Experience, which generated box office revenues of £3.6m.

Entertainment One's film division brought in revenue of $82m in the year-to-date, down from $151m this time last year, which the company said reflects the lower profile and number of releases so far in 2017. One of the films released by the group in the first half was Valerian, which was widely panned by critics and failed to impress at the box office.

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