30 Sep 09
- Revenue increased by 63% to £2,588,266 (2008: £1,589,585).
- Gross profit increased by 44% to £1,332,937 (2008: £925,535).
- Deliver first positive EBITDA of £117,693 (2008: loss of £249,924).
- Acquisition of 'Licensing By Design' and the 'Eric Ambler', 'Michael Innes' and 'John Creasey' literary estates completed during the period under review; all have made a positive contribution to the group's results.
- 'Purple Ronnie' sales continue to grow despite the recession on the High Street, with greetings cards and books both demonstrating good growth over the same period last year. New brand extension activities launching later this year to further extend the reach and revenue of this brand.
- Successful launch of 'Scarlett & Crimson' brand in UK and US markets. The first two books are now in-store at Barnes & Noble (US) and Waterstones (UK) and an exclusive 'Scarlett & Crimson' cosmetics line designed by Ruby & Millie has this month launched in Boots.
- Earnings potential of 'Bagpuss' (UK's best loved children's television character) 'Clangers' and 'Ivor The Engine' significantly improved through exclusive new option to develop and produce new content thereby raising the public profile of the brands.
- 13-episode live action drama 'Dead Gorgeous' fully financed, in production and will be delivered to the BBC (UK) and ABC (Australia), amongst others, later this year.
- Series II of animated children's TV show 'The Large Family' will be delivered on time and on budget and is due to hit screens in the new year (BBC2 and Cbeebies). This follows the success of Series I which was one of Cbeebies top five shows, consistently averaging over 20% share of children aged 4-6 (source BBC Worldwide) and has been sold into over 30 countries.
William Harris, Chairman of Coolabi, said:
"During the period we have driven growth in both our owned and our licensed properties, including many exciting new developments that will help to drive future growth. All these activities have enabled us to deliver a positive EBITDA for the period despite prevailing market conditions, demonstrating the quality of our brands and the hard work and dedication of our team. I am confident that we can further grow our current portfolio. The Company will continue to seek acquisition opportunities that offer significant value to our shareholders.
Extracted from the full anouncement which can be found here