The BFG helps Entertainment One get box office boost

BFG boost: A string of new movies has paid off for Entertainment One
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Joanna Hodgson30 September 2016

A string of new films has helped to put Entertainment One on track to meet full-year targets, the film and TV distributor said on Friday.

The business, which recently spurned a £1 billion takeover offer from ITV, said the BFG, Bad Moms and Woody Allen’s Café Society were among the titles that helped it to boost box office sales by nearly 56% to $151 million (£116.6 million) in the first half to September 30.

It also toasted growth in its family division, thanks to cartoon character Peppa Pig.

In the US, there was “stronger-than-expected demand” for Peppa Pig merchandise, and in China the show has now surpassed six billion views on local internet sites.

New films in the second half of the year include The Girl on the Train, based on the best-selling novel by Paula Hawkins.

Entertainment One added that it is planning to make £10 million in cost savings in the movie arm by 2018.

The update comes in the wake of Entertainment One last month rejecting a 236p-a-share takeover offer from ITV, saying it undervalued the business.

Shares rose 3.27p to 216.37p earlier.

Numis analyst Paul Richards said: “We are pleased to see that the abortive M&A activity over the summer has not had an impact on operational performance.”

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