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UPDATE 1-Television boosts movie distributor Eros' FY profit

Thu Jul 2, 2009 12:50pm IST
 
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* Pretax profit up 7 pct, turnover rises 39 pct

* Looking at shift to LSE main list and listing in India

* Shares rise 4 pct

July 2 (Reuters) - Indian movie distributor Eros International Plc (EROS.L: Quote, Profile, Research) posted a rise in full-year profit as its television business revenue nearly doubled, driven by syndication deals with Indian satellite broadcasters and sales in dubbed markets.

The AIM-listed company -- which has a library of over 1,900 films -- is now looking at a shift to the London Stock Exchange's main list, and is also exploring plans for a listing in India.

For the full year ended March 31, pretax profit rose to $48.4 million, compared with $45.5 million in the year-ago period.

Group turnover grew 39 percent to $156.7 million.

The company's television syndication revenue rose 94 percent to $64 million, while digital and home entertainment revenue grew 67 percent to $46.2 million.

Theatrical revenue fell by 11 percent to $46.3 million.  Continued...

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