(CercleFinance.com) – EuropaCorp announced on Thursday that it had returned to profit in its first half ended September 30, which allowed its stock to advance by more than 2% today on the Paris Stock Exchange.
Despite a turnover of 13.2 million euros, down 24% compared to the first half of the previous financial year, the operating result is balanced, in particular thanks to the fall in its overhead costs.
Due to a positive half-year financial result of +0.3 million euros due to significant exchange gains linked to the rise in the dollar, the half-year net result group share is positive at 0.6 million euros, against a loss of 1.9 million euros a year earlier.
As of September 30, net debt amounted to 21.7 million euros compared to 26.4 million euros due to cash flows generated by the catalog and good cost control.
Cash decreased by only €6.3 million to stand at €54.3 million at September 30.
Regarding his prospects, the producer and distributor of cinema and TV series says he places a lot of hope in the film ‘DogMan’ by Luc Besson, which will be released in French theaters on the 19th.
The company says it has also signed a co-production deal for the series adaptation of one of its biggest hits, the film ‘Lucy’, with Los Angeles-based production company Village Roadshow.
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