Entertainment One on the takeover trail - Growth Company Investor
STRONG BUY
Robert Tyerman
Peppa Pig producer Entertainment One is lining up takeovers on the Continent after turning a £31 million annual loss into £6.9 million pre-tax profits. Darren Throop, Entertainment One’s Canadian chief executive officer, says the company, whose move to the Full List is imminent, has its eyes on ‘some great acquisition targets in East and West Europe’. Currently based in the Cayman Islands and strongly backed by fellow Cayman-domiciled group Marwyn Neptune Fund, the internationally focused company chalked up its first profit since floating on AIM three years ago on turnover 30 per cent ahead to £444.2 million in the year to March, in an austere economic climate, helped by sterling’s weakness against the US dollar. According to Throop, the group has been performing in line with its 2007 flotation strategy of investing in entertainment content and distribution to the tune of £27 million a year in the UK, North America, continental Europe and elsewhere and is now reaping the rewards. He is re-domiciling Entertainment One in Canada with the switch to the full London Stock Exchange.
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