Chorion investment pays off - ToyNews

Chorion investment pays off

New figures show children's revenues up 43 per cent and crime revenues up 24 per cent for firm.
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Chorion has this morning revealed financial results for the 15 months to March 31st 2009 (including pro-rata figures for the 12 months to the same date).

Group 12 month revenues were up 35 per cent to £53.7 million (prior year, £39.9m), while 15 month revenues stood at £59.2 million. Some 55 per cent of the 15 month revenues were from international sales.

The children's division - the main driver of the growth and profitability - saw 12 month revenues rise 43 per cent to £33.4 million (2008: £23.4m), while the figure for 15 months was £37.1m.

Crime division 12 month revenues were up 24 per cent to £20.3 million (2008: £16.4m). The 15 month figure stood at £22.1m.

In terms of brand highlights, Mr Men and Little Miss revenues were up 44 per cent - over 12 million Mr Men books were sold in the UK, US, France and Australia in 2008.

Noddy in Toyland also performed well in its first month airing on Five, while Olivia was successfully launched in the US this February, achieving solid ratings within two months. The show has been distributed into another 122 countries, of which 119 will be on air on 2009.

Six Agatha Christie TV films were delivered, while ITV signed a new output deal for a further eight films. Four million books were sold.

In addition, new pre-school property Octonauts was sold to the BBC (UK), TF1 (France) and ABC (Australia).

"Our strategy to develop and launch a new children's property each year is showing real returns," said Waheed Ali, chairman of Chorion. "Olivia was successfully launched earlier this year, achieving top ratings within months, while Mr Men has increased revenues by 44 per cent. Noddy has been refreshed with a new TV series and continues to be a success 60 years after it was first published.

"Equally important, we have seen notable international revenue growth against a difficult economic environment as our brands take hold in the US, as well as Europe and Australia."

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