Business
Final Results and Notice of A.G.M.
Final Results and Notice of A.G.M..
About this update from One Media Ip Group Plc
[{"type":"text","content":"\n \n 31 March 2020\n \n One Media IP Group Plc\n \n (“One Media”, “the Company” or the “Group”)\n \n Final Results and Notice of A.G.M.\n One Media iP (AIM:OMIP), the digital media content provider which exploits intellectual digital property rights around music, video and copyright technology, announces its Full Year Results for the 12-month period ended 31 October 2019.\n Financial Highlights\n · Revenue increased 30% to £3,508,891 (2018: £2,702,374)\n · EBITDA increased 39% to £1,076,724 (2018: £773,701)\n · Operating profit increased 38% to £878,914 (2018: £638,758)\n · Cash at 31 October 2019 of £860,611 (2018: £5,576,379)\n Operational and Post-Period Highlights\n \n Completed five acquisitions totalling US $6.9 million \n Catalogue of Locomotive Records for US $750,000\n Publishing and songwriter’s rights of Michael Dulaney for US $850,000\n Songwriter’s share of Cole Taylor songs for an initial consideration of US $260,000\n Publishing and songwriter’s of ‘God’s not Dead’by Daniel Bashta for US $725,000\n Publishing and master rights of Philip Wesley for a total cash consideration of US $4.25m\n Board re-constitution with the appointments of Claire Blunt, Brian Berg, Alice Dyson-Jones and Steven Gunning \n Appointment of Cenkos Securities plc as Sole Broker.\n \n Chairman’s Statement\n The Group achieved strong financial results in 2019, delivering double digit growth in revenues, operating profit and EBITDA, and made considerable progress in delivering on its strategy by expanding and diversifying its music library, with five catalogue acquisitions. These acquisitions were completed between February 2019 and September 2019 and the Board is very pleased with their post-acquisition performance. New music rights contributed £515,530 and organic revenues grew by 23.4% in the period.\n \n \nHaving demonstrated its ability to successfully execute these types of transactions, the Group has now decided to focus on enhancing the value of its existing catalogue and on leveraging its in-house technical capabilities to build additional value and profitable revenue streams for the business. Having already made an impressive start to 2020 and with a solid pipeline of opportunities ahead, the Group will continue to focus on growth and will look to maximise its potential in 2020. \n Following the rec...