Intermedia has posted pre-tax earnings of Euros27.5m, 46% above the Euros18.8m forecast when the company floated on Frankfurt's Neuer Markt in May 2000 as Internationalmedia AG.

Final net income for last year reached Euros19.7m, 99% above the Euros9.9m that the company projected when it floated. Intermedia's cash reserve was Euros191.3m at year-end, including Euros169m from the company's listing.

The only black spot in the results was turnover, which at Euros149.7m was 23 % below the forecast figure of Euros193.2m. Intermedia said turnover would have been Euros229.1m if it had been able to include total sales from two acquired films.

The rise in earnings was expected after Intermedia a preliminary statement issued last month indicating pre-tax profits would exceed Euros26.5m. Despite the threatened actor's strike - which could throw Intermedia's Basic Instinct 2 off course - the company is predicting a whopping rise in fortunes in 2001.

Intermedia estimates turnover rising to Euros355 m and pre-tax earnings increasing to Euros47.2m. It predicts a positive cash flow of Euros29.7m from core business.

Intermedia has a market cap at Euros843m and a share price of Euros27. Shares were valued at Euros39 when the company floated, reaching a high of Euros55 a month later.