News Column

Talent Group Loss Widens As Lower Costs Fail To Offset Revenue Decline

June 16, 2014

Hana Stewart-Smith

LONDON (Alliance News) - Talent Group PLC Monday posted a widened pretax loss in the year ended September 30, 2013, as lower administrative costs failed to offset a decline in revenue.

The television content producer posted a pretax loss of GBP289,000, widened slightly from GBP245,000 in the previous year, as revenue declined to GBP677,000, from GBP1.0 million.

The release of the results was delayed as they had raised concerns about the company's future sustainability. Talent Group says it hopes to make a further announcement regarding this in the near future.

Talent Group said that the results were "disappointing" and did not "do justice to the full level of underlying activity."

The company's Talent Television South unit recorded a good year, the company said, working on productions including crime documentaries for the Crime and Investigation Channel and a number of commercial and corporate productions. Since the year end it has worked on documentary 'Tina Malone: Pregnant at 50', and was commissioned to produce content for Trace TV.

The Talent Television business had a less successful year, but continued to work on projects. Since the year end this division was commissioned by Japanese public broadcaster NHK World to re-format one of its programmes for western broadcasters.

During the year Talent Film co-produced a new feature film, Peterman, due for general release later in the year. This was not included in the results as no production fees were generated.

Talent Group said it had continued to lower administrative costs, and expects further reductions during the year. Administrative expenses were GBP465,000 in fiscal 2013, down from GBP494,000 in fiscal 2012.

Shares in Talent Group remain suspended Monday.

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Source: Alliance News

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