London-based film and TVsales company ContentFilm has announced that it expects to meet marketexpectations for the financial year that ended March 31.
The company said that,subject to audit, it expects revenues for the year to be about $18.4m (£10.5m),up 72% from 2005. Earnings beforeinterest, taxes, depreciation and amortization (EBITDA) is likely to be about$1.9m (£1.1m).
ContentFilm has reduced its debt to $15m from a high of $30m at the timeof its acquisition of TV library Fireworks in July 2005.
The company noted that its strategy of ceasing in-house production andtheatrical distribution and selling its film and TV library "has provedsuccessful."
ContentFilm said it ended the financial year with "significant availableworking capital, which is a much improved position compared to a year ago."Content plans to use that capital to pursue new acquisitions.
ContentFilm noted that sales were continuing for its films Thank You ForSmoking, Transamerica, and Black Bookand that it expected sales activity on new acquisitions including TV series Whistler and Jane Show and its feature film in production now, RichardAttenborough's Closing The Ring.
For the fiscal year 2007, ContentFilm said it expected strong revenueand earnings from the Fireworks library, growing film sales and new business inTV sales, ongoing control of overhead, lower interest, and benefits fromcarried-forward tax losses.