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Boomerang Plus

  • BY: Andrew Hore |
  • POSTED: 20/10/2009 |

Wales-based TV programme producer Boomerang Plus is paying an initial 1.1m for Indus Films.

A further 1.295m becomes payable if Indus achieves profit targets over the next three years. Indus reported a profit of 209,000 on revenues of 5.32m in the year to June 2008.

The acquisition should be earnings enhancing in the year to May 2010.

At 80p a share, Boomerang Plus is valued at 7.13m. Despite the recent recovery in the share price it is still less than half the level it was one year ago.

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