Final Results to 30 June 2008 - DCD Media Newsroom

DCD Media announces final results for the Year Ended 30 June 2008.
David Elstein, Chairman of DCD Media, commented,

"DCD has continued its expansion and shown that our acquisition and consolidation strategy is appropriate in these difficult times. We are probably one of the most broadly based of the UK quoted independent TV companies and, with the recent deal within DCD Rights, we will further broaden the catalogue of titles which can generate future income streams.

The Group has an exciting creative core and a broad-based recently re-structured management team, who together make DCD Media a key player in the UK TV production and distribution sector. Recent initiatives have begun to develop a more efficient back office support function, and strengthen both production and distribution activities. The cost savings arising from these new initiatives are anticipated to flow during the current year.

Furthermore, the Group has resolved its recent issues surrounding the Convertible Loan Note terms. The support shown by our major shareholder in buying the loan notes has allowed DCD to renegotiate the terms to a more favourable and stable position for DCD shareholders. The Group now has a more robust financial footing and the employees and management are excited about the future prospects of the business.

The current trading year should show further progress, with the first full twelve months of contributions from the most recent trio of acquisitions and the added momentum of the recent post balance sheet events which strengthen the Group."

View full results on http://www.londonstockexchange.com/LSECWS/IFSPages/MarketNewsPopup.aspx?id=2035419&source=RNS