FY16 results are close to our forecasts with EBITDA a shade light (£2m) and Net Debt essentially in line on the back of lower than expected investment. Film (210 films) and TV (998 half hours) volumes were essentially inline. The outlook statement implies a more modest recovery in film than expected (220 films and £230m investment planned vs N1Se 250 films based on £250m investment) but still points to growth. TV is on track for c1175 half hours (inc 75 MGC) so this points to a further rapid exp ....
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Full year results
FY16 results are close to our forecasts with EBITDA a shade light (£2m) and Net Debt essentially in line on the back of lower than expected investment. Film (210 films) and TV (998 half hours) volumes were essentially inline. The outlook statement implies a more modest recovery in film than expected (220 films and £230m investment planned vs N1Se 250 films based on £250m investment) but still points to growth. TV is on track for c1175 half hours (inc 75 MGC) so this points to a further rapid exp ....