DCD results impacted by production deals
- Published: 26 August 2008 10:16
- Author: Katherine Rushton
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- Last Updated: 26 August 2008 10:27
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DCD's turnover for the 2007/08 fiscal year will be impacted by the delay of "several" production deals, the company has warned.
However, it said in a trading statement issued this morning that the revenues will be "delayed…rather than lost", sparking a 4.5% jump in the company's share price to 23 pence a share.
The publicly-listed production and distribution group, which owns September Films and Prospect Pictures, had a market cap of £14.02m at the time of publication.
It said in the statement: "Several production deals within two of the group's subsidiaries were not concluded prior to DCD's financial year end on 30 June 2008. Subsequently, certain of the deals were successfully concluded since the start of the current financial year, with the two remaining contracts expected to follow in the near term.
"The board of DCD reiterates that some rescheduling in production activity is inevitable in a group of this size and that the effect of this is one of delayed revenues rather than lost revenues.
"The directors are very encouraged by the development pipeline and the strong prospects for the current financial year and beyond."
In addition to September Films and Prospect, DCD owns the production companies Box TV, Done & Dusted, Iambic Productions and West Park Pictures, as well as the distribution businesses NBDtv/DCD Media and Digital Classics Download.
