Strong performances across all Entertainment One’s (eOne’s) divisions underpinned 19% reported revenue growth in H117. With a significant proportion of its slate commissioned or contracted in Television, a good roster of films and strong momentum internationally in Family, the full year is on track to meet management’s expectations. We maintain our forecasts and believe the shares, trading at a considerable discount to peers, do not yet reflect the more balanced structure of the group, or its stronger operational performance.