Business
Three year Contract win with
Three year Contract win with.
About this update from Audioboom Group Plc
[{"type":"text","content":"\n RNS Number : 1252I Boomerang Plus PLC 05 March 2010 \n \n\n\n\n\n\nDate:\n\n\n5 March 2010\n\n\n\n\nOn behalf of:\n\n\nBoomerang Plus plc ('Boomerang', 'the Company' or 'the Group')\n\n\n\n\nEmbargoed until:\n\n\n0700hrs\n\n\n\n\n \nBoomerang Plus plc \n \nBoomerang wins three year contract worth £4 million\n \nBoomerang Plus plc (AIM: BOOM.L), a multi-genre, independent television production group based in Cardiff, is pleased to announce that it has won, in open competition, the tender to produce programming content and links for Cyw, S4C's pre-school service. \n \nThe new contract will run for three years from October 2010 and will be worth £1.33 million per annum. Revenue will be realised from FY2011 onwards. The contract reinforces Boomerang's strong revenue visibility as it is in addition to the £50 million revenue pipeline announced in the Group's interim results released on 25 February 2010. \n \nLast year, Boomerang's children's division won an RTS award for the programme ABC'H' and a children's BAFTA for Rhestr Nadolig Wil. Boomerang is currently in production of My Dad's in Prison for CBBC, whilst Boomerang's subsidiary, Indus, is producing Tough Kids and Children of the Road, also for CBBC. Combined with today's S4C contract win, these programmes will result in the Group producing over 200 hours of children's content next year and strengthen further its position as one of the UK's largest independent children's content producers.\n \nCommenting on the contract, Huw Eurig Davies, CEO of Boomerang, said: \n \n\"We are delighted to have won this new contract. It reinforces Boomerang's fantastic reputation within the independent children's television production sector, enhances the Group's strong revenue visibility going forward and further strengthens our relationship with S4C.\n \n\"We have enjoyed a transformational period over recent months with the addition of Indus, and Method to the Group as well as a series of contract wins. We are proud of our strengths within children's content and will continue to grow our genre portfolio and new and existing relationships with broadcasters.\"\n \nEnd\n \nFor further information, please contact:\n \nBoomerang Plus plc &nb...