Power Set for Record Year

LONDON: Power says that it is due to report a record financial year, driven by its slate of event productions.

New production has been driving the growth of the company, with a slate that includes the environmental disaster epic Ice, currently in post production; the thriller Puppet on a Chain, based on the Alastair Maclean classic; and XIII: The Series. The company has also established PowerLocal, led by Sue Green, as a new division that will drive the company’s expansion into local drama and format production. The company said that profits for the period ending March 2009 rose to £9.3 million.

Justin Bodle, the CEO and chairman of Power, commented: "Power is a truly global company and the key has been to not be overly reliant on any one market in a time of falling ad revenues and reduced drama budgets. It’s been a tough year for everyone in the television industry, particularly producers, and we’re very pleased to deliver such good results. To accomplish this during a global recession is a great feat and we’re confident the strategies we are implementing now will create further growth into 2011 and beyond. I am particularly pleased as well that our flagship programming is achieving such high audiences in so many major markets."