Entertainment One posts loss

Entertainment One, the company behind the Twilight vampire films, said yesterday its first-half losses widened 44 per cent to £7.9m, compared to £5.5m in the previous year, as higher interest charges and write-offs offset higher revenues. The Aim-listed firm reported turnover 25 per cent higher at £164m, with underlying profits 38 per cent higher at £9.3m and operating cash flow up from £5.5m to £28.6m. The firm, which operates in the UK, US and Canada, said that the second-half should get a significant boost from sales of major network shows for TV, while the second movie in the Twilight series opens in the UK and Canada this weekend. It aims to release over 120 movies across its markets in the current financial year.