Co-owner of Peppa Pig and distributor of Twilight franchise also announced 25% increase in revenues to £629.1m
Peppa Pig co-owner Entertainment One enjoyed a huge 25% surge in underlying profit growth in 2012 to £53.8m, thanks in part to the success of the Twilight vampire franchise it distributes – but suffered almost £27m in charges relating to factors including potential payouts for top executives, and HMV and Blockbuster going into administration.
Entertainment One results for the year to 31 March were buoyed by the acquisition of Alliance Films last September, which has rights to films including The King's Speech, The Girl with the Dragon Tattoo and the Lord of the Rings trilogies.
Entertainment One, which said it grew profits by about 6%, similarly reported revenues soaring by 25% year on year to £629.1m.
Unadjusted pre-tax profits slumped by 76% from £23.1m to £5.5m year on year.
The company, which said on Tuesday that it is to seek a premium listing that will admit it to the FTSE250 market, said the slump is due to a previously announced one-off charge of £26.8m.
The bulk of the charge, £19.7m, relates to acquisition and restructuring costs of Alliance Films. These include £5.5m in staff redundancies.
The remainder of the charge includes £5.2m set aside for the potential payment to top executives for the "outperformance of the incentive plan".
The company said the Alliance acquisition and expected share price boost from moving to the FTSE250 would "more likely than not" lead to a performance-based payout of £5m to executive directors.
Entertainment One also took a £1.7m charge relating to the business woes of HMV and Blockbuster.
"The businesses have been restructured with a significant number of store closures," the company said. "Due to this reduction in shelf-space, the group has reduced its projected ultimate DVD and Blu-ray revenue across a number of titles".
Revenues at the film division surged 25% to £518m, with the biggest release of the year the fifth Twilight Saga film, as underlying profits rose by the same factor to £49.3m.
Entertainment One's TV division grew revenues by 15% to £133.4m, underlying profits rose 3% to £18m.
The family operation, which includes Peppa Pig's rapid international expansion, did not split out figures but saw revenue rise 7% year on year.
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Peppa Pig co-owner Entertainment One enjoyed a huge 25% surge in underlying profit growth in 2012 to £53.8m, thanks in part to the success of the Twilight vampire franchise it distributes – but suffered almost £27m in charges relating to factors including potential payouts for top executives, and HMV and Blockbuster going into administration.
Entertainment One results for the year to 31 March were buoyed by the acquisition of Alliance Films last September, which has rights to films including The King's Speech, The Girl with the Dragon Tattoo and the Lord of the Rings trilogies.
Entertainment One, which said it grew profits by about 6%, similarly reported revenues soaring by 25% year on year to £629.1m.
Unadjusted pre-tax profits slumped by 76% from £23.1m to £5.5m year on year.
The company, which said on Tuesday that it is to seek a premium listing that will admit it to the FTSE250 market, said the slump is due to a previously announced one-off charge of £26.8m.
The bulk of the charge, £19.7m, relates to acquisition and restructuring costs of Alliance Films. These include £5.5m in staff redundancies.
The remainder of the charge includes £5.2m set aside for the potential payment to top executives for the "outperformance of the incentive plan".
The company said the Alliance acquisition and expected share price boost from moving to the FTSE250 would "more likely than not" lead to a performance-based payout of £5m to executive directors.
Entertainment One also took a £1.7m charge relating to the business woes of HMV and Blockbuster.
"The businesses have been restructured with a significant number of store closures," the company said. "Due to this reduction in shelf-space, the group has reduced its projected ultimate DVD and Blu-ray revenue across a number of titles".
Revenues at the film division surged 25% to £518m, with the biggest release of the year the fifth Twilight Saga film, as underlying profits rose by the same factor to £49.3m.
Entertainment One's TV division grew revenues by 15% to £133.4m, underlying profits rose 3% to £18m.
The family operation, which includes Peppa Pig's rapid international expansion, did not split out figures but saw revenue rise 7% year on year.
• To contact the MediaGuardian news desk email media@guardian.co.uk or phone 020 3353 3857. For all other inquiries please call the main Guardian switchboard on 020 3353 2000. If you are writing a comment for publication, please mark clearly "for publication".
• To get the latest media news to your desktop or mobile, follow MediaGuardian on Twitter and Facebook. Reported by guardian.co.uk 18 hours ago.