Local TV production house Beyond International expects to lift earnings by up to eight per cent over the first half of the financial year.
Beyond, which produces popular programs such as Mythbusters, told shareholders at last week’s annual general meeting that earnings before interest and tax would be 3-8 per cent higher than a year earlier despite a marginal increase in revenue.
Television production orders were 15 per cent higher than the same time a year earlier over the four months ended October 31.
Those orders were comprised of 19 TV programs with combined production budgets of approximately $40 million. Six of those programs were for the US market, eight were for the Australian market and five were funded through advertising and sponsorship arrangements in Australia.
Revenue from international television sales was “in line” with the previous period although expected to pick up over the remainder of 2011.
“The international market for finished products is currently robust and is driven by a proliferation of digital channels and new platforms that have a demand for quality product in high volume,” the company said.
Beyond's home entertainment division posted marginally stronger revenue over the four-month period driven by the success of the Smurfs television series, the sci-fi series Sanctuary, lifestyle show Man Vs. Wild and strong sales performance across the AETN International programs.
Beyond’s home entertainment division lifted its market share from 3.2 per cent to 4.3 per cent over the September quarter despite the total market declining by 16 per cent amid subdued trading conditions.
Contact this reporter at bswift@www.if.com.au or on Twitter at @bcswift.