Peppa pushes profit upward for her owner

 
Steve Dinneen
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Peppa Pig continues her trot to world domination, helping push creator Entertainment One’s pre-tax profits up 39.2 per cent to £32.3m yesterday.

The firm says it is poised to announce a merchandising partner for the cartoon pig in the US, where the series has already smashed into the top ten children’s shows since it began screening in February.

Peppa has already sold £200m worth of toys in the UK and some analysts think sales in the US could hit $1bn (£620m). Entertainment One, which also owns the distribution rights to movies including the Twilight Saga, saw its revenues rise 12.1 per cent to £469.7m, while its debt fell from £63.2m to £38.6m.

Chief executive Darren Throop told City A.M. the firm has had a “good, solid year” and expects further profit and revenue improvements over the next 12 months.

He said: “We have lots of very promising releases coming up, especially in the back half of the year.”

He reiterated plans to create a production base for its family division in the UK and said he is considering acquisitions. However, Throop ruled out a bid for Pinewood Studios, saying the inflexibility of a fixed studio of that size is too big a risk.