Strong earnings from its film division helped Swedish media major Bonnier AB - owner of Scandinavia's largest film company Svensk Filmindustri (SF) - post a net profit of $140m (SEK 1,011m) in 2003.
SF distributes The Lord Of The Rings films, which helped its parent company's entertainment division achieve record profits. Sales rose by 5 percent and operating profit more than doubled to $57m.
"SF's success with the Lord of the Rings movies throughout the Nordic Region is a major source of satisfaction," said Bengt Braun, President and CEO of Bonnier AB.
During the autumn SF Bio acquired the Heron City movie multiplex outside Stockholm from US-owned exhibitor AMC.
Bonnier Entertainment produces and distributes entertainment through its subsidiaries Svensk Filmindustri, SF Bio, Home Entertainment, SF Anytime and the Bonnier Amigo Music Group.