BBC Worldwide Sees Profit Hike

LONDON: BBC Worldwide has reported a 36.5 percent increase in profit to £145.2 million on revenues that were up by 7 percent to £1.07 billion for the year ending March 31, 2010.

BBC Worldwide also delivered increased dividend payments to the BBC of £73.6 million, helping to lift the overall cash return to the BBC to more than £150 million for the second year in a row.

John Smith, chief executive of BBC Worldwide, commented: “Today’s figures, with profits up by 36.5 percent, demonstrate that our strategy is working. As well as developing into a diversified global media business and extending the international visibility of the BBC brand, the company is delivering a strong financial performance. BBC Worldwide continues to give consumers around the world more and more content from the BBC and other British production companies. This allows us to re-invest in more great content and return more cash to our parent organization, the BBC.”

The Channels division reported a 16.4 percent increase in revenues to £262.2 million, with profit up 34.2 percent to £39.2 million. EMEA was the biggest contributor, with £173.4 million, followed by the Americas with £52.5 million and Asia Pacific at £36.7 million. S

Sales & Distribution was up by 4.8 percent to £214.8 million in revenues, delivering a profit of £57.9 million, a 26.4 percent gain. EMEA delivered the bulk of the revenues, £134.8 million, down slightly on the year-ago period. Sales to the Americas also posted a dip, while sales to Asia increased from £34.7 million to £42 million. Top titles were Top Gear, Life, Planet Earth, Being Erica and Doctor Who.

Home Entertainment revenues increased 2.1 percent to £230 million, while profit was £40.3 million, a 17.8 percent rise.

Content & Production contributed £97.6 million, a 10.7 percent hike, with profit up 4.8 percent to £17.6 million. The Digital Media segment, while reporting a 9-percent revenue gain to £30 million, posted a loss of £20.8 million, an improvement on last year’s £29 million. The Global Brands division also reported a loss, of £7.4 million, on revenues of £70.9 million, a 15.2-percent increase.