French distribution group BacMajestic has announced a loss of Euros 5.3m for 2004 on revenues of Euros33.8m. This is compares with a net loss of Euros 11.5m in 2003 on revenues ofEuros 53.2m.
The revenues were higher thanexpected - projected revenues had been in the Euros 28 to 31m range. Thecompany also registered a profit for the second half of 2004 of Euros 2.1mfollowing its take over by production house Millimages.
In a press release, thecompany noted that Bac Majestic has limited its annual release schedule to 15films with projected revenues of Euros 18m for 2005.
Upcoming releases includeofficial Cannes selections Broken Flower by Jim Jarmusch, Free Zoneby Amos Gitai and Zim And Co by Pierre Jolivet.
Bac went through a difficult periodfor a number of years before it was given a cash infusion by Millimages whichnow owns a majority stake.