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Australia's Beyond blames losses on revaluation of film catalogue

Beyond International managing director Mikael Borglund has played down the company's US$12m (A$22m) loss for the year ending June 30, saying it was principally due to a $10.7m revaluation of non-performing films and television programs from the catalogue. Total writedowns were actually $12.6m with the addition of online investments and foreign exchange losses.The board agreed on this "conservative approach" because of continuing poor worldwide sales, uncertain world economic ...

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