Sales revenues at Germany's Intertainment slid by more than 80% in the first six months of 2003 compared to the same period last year, but were "in line with expectations", according to an adhoc statement.
The Munich-based company reported sales of Euros 2m for the period to June 30, 2003, compared to Euros 11.5m in the first half of 2002, and blamed the still unresolved lawsuit against Franchise Pictures for the poor business performance.
The group's EBIT stood at Euros -4.1m for the first half of 2003, compared to Euros -1.6m 12 months previously, and the net loss was Euros -4.8m, compared to Euros -4.1m.
On a positive note, sales and EBIT improved between the first and second quarters of this year: sales increased from Euros 700,000 to Euros 1.3m and the EBIT rose from Euros -2.3m to Euros -1.8m. In addition, the group result improved from Euros -2.8m between January and March to Euros -1.9m between April and June.