Germany's Neuer Markt-listed Splendid Medien reported a 150% year-on-year growth in sales and positive earnings before tax, according to provisional figures for the 2001 financial year. The final financial report will not be presented until March 28.

The Cologne-based company reported that the preliminary sales for 2001 are approximately Euros 68m - up 150% on 2000's result of Euros 27m and 33% above Splendid's own sales forecasts.

The news boosted Splendid's share by over 15%

This latest development came just a week after a newly founded subsidiary Splendid Pictures Inc. acquired the US production outfit Cutting Edge Entertainment. Sales of the Splendid Group are expected to more than double this year as a consequence of the acquisition.