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Metrodome Group
- BY: Andrew Hore |
- POSTED: 26/08/2010 |
DVD and film distributor Metrodome Group’s cost reductions are helping to offset a decline in the retail DVD market.
Revenues were 1% lower at £4.51m in the six months to June 2010. The cost savings barely showed through in the first half but there was a small rise in underlying profit from £159,000 to £163,000. That excludes £411,000 of reorganisation and abortive acquisition costs.
Net cash was £374,000 at the end of June 2010.
The biggest improvement in revenues came from video on demand. These revenues increased 157% to £665,000. Cinema and TV revenues also increased but retail DVD sales - still two-thirds of the total - fell 11% to £3.07m.
Target Entertainment was bought after the period ended.
At 1.5p a share, Metrodome is valued at £2.77m.
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