Major Danish Media Group Egmont has reported a 5% increase in revenues for 2002 to Euros 1.2bn, while its film division Nordisk Film registered a Euros 1.3m loss despite improved revenues - from Euros 399m in 2001 to Euros 432m in 2002.

The outfit, which encompass feature production, TV and games, is the largest Nordic producer and provider of electronic entertainment and in August 2002 merged its two sister divisions Egmont Entertainment and Nordisk Film in order to improve its profit.

Overall, Egmont's 2002 profit before tax amounted to a solid Euros 39.1m, a Euros 35.1m improvement on 2001.

"Overall the 2002 result is satisfactory," commented CEO Steffen Kragh. "We have focused strongly on improving our operating performance and our profits rather that going for growth. At the same time we have taken steps during 2002 to resolve a number of our problem areas. In parallel we have continued our investments in creativity and the development of the companies in the Group."

Egmont celebrates its 125th anniversary this year.