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Ten Alps

  • BY: Andrew Hore |
  • POSTED: 15/12/2011 |

Information publisher and broadcaster Ten Alps moved back into profit before interest charges in the six months to September 2011.

There is still more improvement needed, though.

Pre-interest and impairment of assets, an interim operating loss of £1.15m was turned into an operating profit of £274,000. There was still a £157,000 loss after interest. Revenues rose from £21.3m to £22m. The corporate social responsibility division reported lower revenues and is still losing money.

The business to business and TV divisions both moved back into profit as they benefit from recent cost cutting and restructuring. Group operating expenses fell from £8.48m to £6.99m, which was predominantly in the business to business division. Ten Alps has closed the Teachers TV holding company, although the online version continues, and its Asian TV operations.

There was a restructuring cost of £193,000 – presumably former chief executive Alex Connock’s pay off is included in that.

There was a small cash outflow from operations. Net debt edged higher in the period to £4.81m at the end of September 2011. More of that debt is now longer-term.  At 3p a share, Ten Alps is valued at £3.98m.

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