Australian-based television producer, Beyond International Limited has reported an EBIT loss of $2.5 – $3 million in the financial year of June 2019 – significantly lower than the $0.4 million reported in June 2018.
Beyond expects to earn up to $4 million in the year ending 30 June 2019. These earnings are impacted by the inclusion of leases which was introduced this year.
They have repaid a debt of $1.2 million which was outstanding from 31 December 2018 and they are expected to be in the green at the end of the 2019 financial year.
It is believed that delays in the production of some titles will have an effect on the results for distribution. Production and Copyright are expected to trade below the corresponding period last year due to delays in commencing new shows including season 12 of Mythbusters and Halifax Retribution.
However, shows such as Heavy Rescue, Love It Or List It and Deadly Women will continue to generate a moderate income with international sales still going strong, with series renewals for all of these.
Please find the announcement attached: https://hotcopper.com.au/data/pricesensitive/announcements/ASX/2A1141403_BYI.html