Press Releases
Boomerang Plus plc Preliminary Results 2011
28 September 2011
Boomerang Plus plc (AIM: BOOM.L), a profitable media investment group, announces its preliminary results for the year to 31 May 2011.
FINANCIAL HIGHLIGHTS
- Revenue up 25.8% to £26.93m (2010: £21.41m).
- Gross profit up 30.2% to £4.55m (2010: £3.50m).
- Adjusted EBITDA** up 52.5% to £1.93m (2010: £1.27m).
- Adjusted operating profit* up 50.5% to £1.17m (2010: £0.78m).
- Profit before tax up 90.7% to £1.02m (2010: £0.54m).
- Adjusted basic EPS* up 20.7% to 6.60p (2010: 5.47p).
- Cash and cash equivalents down to £2.59m (2010: £3.07m) due to capital investment programme.
OPERATIONAL HIGHLIGHTS
- Continued progress in diversifying the Group’s customer base.
- Successful integration of Indus Films Limited, acquired in October 2009.
- Continued organic growth of Advertiser Funded Programming (“AFP”).
- First two contracts from Disney awarded during the year.
- 659 hours of television programming in calendar year 2010 (2009: 428).
OUTLOOK
- Post year-end acquisition of Oxford Scientific Films.
- Post year-end acquisition of Harlequin Talent Agency, through a joint venture with Bryn Terfel.
- Increasing commitment to, and opportunities from, Nations commissioning from Network broadcasters.
- Strong balance sheet to support future growth with net assets of £9.5m.
- A strong start to trading in the 2012 financial year.
Huw Eurig Davies, Chief Executive Officer of Boomerang
Plus, commented:
“Organic Network growth, our recent acquisitions and
growth in AFP have all contributed to diversifying the
Group’s customer base and widening its intellectual product
base. This will continue to drive further growth and provide us
with opportunities to increase out gross profit margins. The Group
has made a strong start to trading in the current financial year
and we will also continue to look for further acquisitions that can
add value for shareholders in a fast-changing media
marketplace.”
* adjusted for professional fees in relation to corporate transactions (2011 - £0.02m, 2010 - £0.07m), provision for impairment of investments (2011 - £nil, 2010 - £0.07m), amortisation of intangible assets arising on business acquisitions (2011 - £0.02m, 2010 - £0.02m), and share-based payments (2011 - £nil , 2010 - £0.01m).
**adjusted operating profit as defined above before depreciation (2011 - £0.72m, 2010 - £0.45m) and other amortisation (2011 - £0.04m, 2010 - £0.04m).
Contacts:
| Boomerang Plus plc | Tel : 029 2055 0550 |
| Huw Eurig Davies, Chief Executive Officer | |
| Mark Fenwick, Finance Director | |
| finnCap Limited | |
| Geoff Nash/ Charlotte Stranner | |
| Simon Starr/ Victoria Bates (broking) | Tel: 020 7220 0500 |
| Walbrook PR Ltd | Tel: 020 7933 8780 |
| Paul McManus | paul.mcmanus@walbrookpr.com |
| Paul Cornelius | paul.cornelius@walbrookir.com |
About Boomerang Plus plc (www.boomerang.co.uk)
Boomerang Plus plc has strategic investments in a number of media businesses including production companies Alfresco, Apollo, Boomerang, Bulb, Fflic, Indus, and Oxford Scientific Films; Facilities companies Gorilla and Zoom; multi–media publisher Boom Extreme Publishing; talent companies Harlequin and Boom Talent; Event company Big Freeze Limited, and Education and corporate production business Media4.
Boomerang Plus’s strategy is to continue to acquire and invest in and develop media companies that complement the Group’s existing businesses, whilst also achieving strong organic growth.
View the full PDF version of Preliminary Results 2011 (222 KB)
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