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EXTRACTS FROM THE FINANCIAL STAEMENTS FOR THE YEAR ENDED MARCH 2003:

Principal activity of the business in the year
The principal activities of the company are the sourcing and marketing of general interest DVD's, videos and books to the retail trade and the production of television programmes for the international broadcast market and the licensing and marketing of intellectual property rights.

Overview of the company
The Contender Entertainment Group is a leading independent video distribution company and book publisher that acquires the rights to or produces material for distribution on retail home video in the UK and in book formats in the following genres: children's; television series; nostalgia; and celebrity driven general entertainment. The company was incorporated in 1994 and began trading in 1995.

The company's vision is Building Entertainment Brands.

The company's mission is to be the leading independent consumer entertainment company in the UK: to use these skills, contacts and profits to develop third party home entertainment brands and to create and control our own Intellectual Properties.

Business review
The company experienced very strong sales growth in the year:

  • Video / DVD turnover grew by 64%;
  • Books turnover exceeded 1.4m in its first full year of trading;
  • TV and merchandising licenses generated income for the first time.

Overall sales grew by an exceptional 88%. Costs, however, reflected the investment in the tv and merchandising new business areas depressing operating profit margins from 13% to 9%. Future years should see a slowing of turnover growth, but an increase in operating margins as the new business areas mature.

There was a profit for the year after taxation amounting to 666,081 (2002: 466,243). The directors recommend the payment of an ordinary B share dividend of 60p per share.

Contact
For more information about Contender's financial results, please contact Charles Ogilvie, Finance Director at cogilvie@contendergroup.com