German media company Das Werk posted a 14.6% increase in turnover to Euros 26.8m for the first quarter of 2002 compared to the same period last year, thanks to business generated by its new acquisition Centropolis Effects (CFX).
In a breakdown of the Group's turnover, the German companies brought in Euros 11.9m (44.4%), London-based Glassworks and Spain's En Efecto Euros 8.8m (32.8%) and the concern's Stateside subsidiaries Promark Entertainment and CFX Euros 6.5m (24.3%). In the first three months of this year, CFX was awarded over $13m worth of visual effects work, including the handling of New Line Cinema's remake of Willard.
In an outlook for the coming months, Das Werk observed that the current downturn in the advertising market would still have a pronounced effect on the revenues from its postproduction division: "the management of the Werk postproduction facilities are working on the assumption that no improvement will emerge in the market position in the course of the year.
The prospects for Das Werk's film production and licence trading operations look rosier: the group is expecting an increase in sales of at least 55% year-on-year to between Euros 55m and Euros 62m thanks in particular to the higher revenues expected to flowing from such Road Movies productions as Bend It Like Beckham, the compilation films Ten Minutes Older and The Blues, and Ken Loach's Cannes competition film Sweet Sixteen
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