News blog
Ten Alps
- BY: Andrew Hore |
- POSTED: 15/06/2009 |
Ten Alps managed to edge up its profits even though revenues fell 1.5% in the year to March 2009.
Shares in Ten Alps rose 1p to 26.75p each, which values the TV content producer and business publisher at £17.1m.
The figures were in line with expectations and pre-tax profit increased by £176,000 to £3.34m on revenues of £80.2m. Gross margins improved from 28.2% to 29.8%. Underlying operating margins improved from 5.7% to 6.4%. Higher interest charges offset some of those margin improvements.
Capitalised spending on website development rose from £106,000 to £279,000. The migration of content online continues to gather pace. This can generate opportunities for link, directory and video based revenues.
The communications division increased its profit contribution. The main growth came from online and video and marketing services.
The content profit contribution fell. The reduction in minority interests in profits indicates that Teachers TV made a lower contribution last year.
Cash was boosted by the £3m raised in March 2009. There is £13.1m in the bank but net debt was £1.38m at the end of March 2009.
Ten Alps is focusing on further improvement in margins.
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