Subscribe Online  

Ten Alps reports £8m loss

Ten Alps reports £8m loss
Pippa Considine
24 June 2013

Ten Alps, the parent company of factual producers Brook Lapping, Films of Record and Blakeway, has reported losses amounting to eight million pounds for the year to 31 March 2013, double the £3.6m losses in the previous year.

Depite setbacks, it is looking to build on successful content, such as its BBC documentary Great Ormond Street and Channel 5 series Benidorm ER.

In a statement, the company described it as "a year of transformation for the Group." A restructure has seen Ten Alps focus on two divisions, broadcast and integrated services. In February there was a management buy-out of Northern Ireland indie Below the Radar and it has closed its Manchester publishing office and Derby TV operations.

The biggest losses came in the company's publishing unit, which saw revenues decrease by £6.73m year on year. Revenue from continuing operations was down 19.14% to £27.64m from last year's £34m and gross profit decreased by 27% to £8.11m  from the previous year's £11.12m.

The company was originally founded in 1999 by Alex Connock and Bob Geldof. It is now run by Peter Bertram as chairman. Alex Connock left the business in 2011 and was appointed director of new business for Shine UK in April last year.

Despite the losses, Bertram insists that the company is heading towards a return to overall profitability. "We have a good order book in all our divisions which bodes well for the new financial year," said chairman Peter Bertram. "Although it has been a challenging journey since I took on the role as chairman in January 2011, the group has completed many of its planned strategies of focus and stability this year.

"With continued attention on core markets and organic growth together with a restructured balance sheet, we start the new financial year in a stronger position.

"We have many talented individuals across our divisions, who continue to create and deliver quality and professional products in tough economic conditions, something this board is proud of."

In 2012, the company blamed the combination of difficult trading, development and restructuring on results. Revenues in 2010 were £66.1m and profit £5.4m.

Be the first to comment.

Televisual Media UK Ltd 23 Golden Square, London, W1F 9JP
©2009 - 2017 Televisual. All rights reserved
Use of this website signifies your agreement to the Terms of Use | Disclaimer