Peppa Pig helps Entertainment One double its pre-tax profits
ENTERTAINMENT One yesterday announced rising profits, fuelled by success in television, particularly the continuing popularity of its Peppa Pig children’s character.
The firm said that pre-tax profits had doubled to £44m, and earnings before interest, taxes, depreciation and amortisation (Ebitda) was up 16 per cent to £107.3m, for the year ending March 31 2015.
Group revenue was down five per cent, dragged down by the group’s film business. Chief financial officer Giles Willits explained “film had a more challenging year from a revenue perspective.”
Entertainment One is behind the latest installment of the popular Hunger Games film series, to be released this year. Willits said: “We’re certainly anticipating growth in revenue next year in the film business, that’s a definite.”
One area where there was no problem generating revenue was the children’s character Peppa Pig. It brought in $1bn (£650m) in global retail sales alone, and will begin broadcasting in China later this year. “It’s doing very well in territories where its just started to go,” commented Willits on the popular pre-school show.
Shares in Entertainment One ended trading yesterday up 2.26 per cent at 325.7p a share.