Business
Preliminary Results
Preliminary Results.
About this update from Audioboom Group Plc
[{"type":"text","content":"\n RNS Number : 3411B Boomerang Plus PLC 26 October 2009 \n \nDate: 26 October 2009\nOn behalf of: Boomerang Plus plc ('Boomerang', 'the Company', or 'the Group')\nEmbargoed until: 0700hrs\n\nBoomerang Plus plc\nPreliminary Results \n\nBoomerang Plus plc (AIM: BOOM.L), a profitable and vertically integrated, multi-genre, independent television production group operating within the Nations and Regions, today announces its preliminary results for the year ended 31 May 2009.\n\nFinancials \n\n\n\nRevenue of £19.76 million (2008: £20.93 million), a decrease of 5.6% predominantly due to delayed projects\n\n\nOperating profit of £1.14 million (2008: £1.40 million), a decrease of 19%\n\n\nAdjusted operating profit* of £1.25 million (2008: £2.20 million), a decrease of 43%\n\n\nProfit before tax of £1.10 million (2008: £1.30 million), a decrease of 16%\n\n\nCash and cash equivalents of £3.03 million (2008: £6.33 million)\n\n\nOperations\n\n\n\nThree-year contract for £12 million from S4C to produce programming and links for older children, reinforcing position as one of the largest children's content producers in the UK\n\n\nRevenue growth of 93% in Advertiser Funded Programming ('AFP') division to £1 million\n\n\nProduced 371 hours of television programming in calendar year 2008 \n\n\n* adjusted for exceptional administrative expenses (2009: £nil, 2008: £0.64 million), professional fees in relation to unsuccessful corporate transactions (2009: £0.07 million, 2008: £0.10 million), amortisation of intangible assets arising on business acquisitions (2009: £0.02 million, 2008: £0.04 million) and share- based payments (2009: £0.02 million, 2008: £0.02 million).\n\nOutlook\n\n\n\nHigh visibility of future commissions with a pipeline of £42.9 million of programming revenue including £16.9 million for the current financial y...