Business
Half-yearly Report
Half-yearly Report.
About this update from One Media Ip Group Plc
[{"type":"text","content":"\n \n One Media iP Group Plc \n\n (\"One Media\", the \"Group\" or the \"Company\") \n\n UNAUDITED INTERIM RESULTS \n\nProfit before taxation up 31.5%, turnover up 13% and interim dividend of 0.071p\n ence declared \n\n USD$2 million advance agreed with The Orchard \n\nOne Media iP Group plc (AIM: OMIP), the digital media content provider that\nexploits intellectual property rights around music and video, is pleased to\nannounce its half year results for the period ended 30 April 2014 and an\ninterim dividend.\n\nHighlights:\n\n * Turnover up 13% to £1,492,412 (2013: £1,325,119);\n \n * Profit before tax up 31.5% to £344,865 (2013: £262,180);\n \n * Cash balances of £1,411,305 at 30 April 2014 (2013: £1,919,668);\n \n * Dividend of 0.077p per ordinary share paid in November in respect of the\n year ended 31 October 2013; and\n \n * Interim dividend of 0.071p per ordinary share declared in respect of the\n six month period ended 30 April 2014.\n \nAs announced on 10 June 2014, a USD$2,000,000 advance against future royalties\nwas agreed with the Company's distributor, The Orchard.\n\nMichael Infante, Chairman and CEO, commented: \"I am very pleased with our\nongoing progress and today's published results and post-balance sheet events.\nThe Group continues to deliver shareholder value, both through improved\nfinancial performance and the acquisition of content, which the Board believes\nadds considerable value to One Media setting the Company apart. We do face\nchallenges however in our digital world and the Board recognises that there is\nno room for complacency. Streaming music sites such as Spotify and YouTube are\nbeginning to dominate what was, only a short time ago, the majority `selling\nspace' held by the traditional digital stores such as iTunes\"\n\n\"We embrace all forms of digital exploitation but the shifts in digital models\ntoday are demanding and require us to keep ahead of the curve on all our\ndistribution services. We are constantly monitoring trends and keep ahead by\ntraining our team in new methods of digital marketing utilising social media.\nWe are confident that your Company is correctly positioned to meet the many\ndemands within the industry.\"\n\nFor further information, please contact:\n\nOne Media iP Group Plc Chairman and Chief Executive \nMichael Infante Tel: +44 (0)175 378 5500 \n \nCairn Fin...