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Metrodome Group
- BY: Andrew Hore |
- POSTED: 04/03/2010 |
- COMMENTS: Add yours
Film and DVD distributor Metrodome Group returned to profit in 2009.
Revenues grew from £6.59m to £9.09m, while a loss of £543,000 was turned into a profit of £199,000. Metrodome managed to cope with the collapse of Woolworth and Zavvi at the end of 2008. This hit the retail DVD operations.
Retail DVD accounts for the vast majority of revenues but the other areas are growing faster. That is particularly true of DVD rental, where revenues grew 309% thanks to Metrodome taking the operation in-house, but TV and video on demand sales nearly doubled.
The balance sheet is strong with £1.58m in cash at the end of 2009.
A potential acquisition fell through at the start of 2010 and this cost £45,000 in 2009 and £20,000 since.
Further organic growth is expected this year but Metrodome feels it needs to become much bigger.
At 2.25p a share, Metrodome is valued at £4.16m.
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