ENTERTAINMENT One, which owns the rights to the Twilight movies, said yesterday it cut its losses in the last six months of the year.
The firm’s reported loss before tax fell to £2.5m – down from £7.9m – and included £1.8m of one-time costs associated with the company’s move to the main market in London.
The firm, which recently announced the export of its smash-hit children’s animation Peppa Pig to the US, saw its revenues rise 30 per cent to £212m.
Chief executive Darren Throop told City A.M. he is planning to roll out the firm’s UK production operations in its TV division through inorganic growth.
Entertainment One is also hoping Peppa Pig can emulate its UK success when it hits the US next year.
It has made around £150m in the UK and some analysts are speculating it could rake in as much as £700m in the US. Throop added: “The second half has started well. We anticipate the business will continue to deliver good growth and are confident market expectations will be met.”
The Toronto-based firm is also Canada’s largest wholesaler of DVDs, CDs and video games.