Record profits for BBC Worldwide

Profits up 24 per cent to £111.1m for year ending March 31st 2007.
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BBC Worldwide has today revealed record pre-tax profits of £111.1 million on sales of £810.4 million.

Highlights of the year include continued strong profits growth, very strong international sales of hit shows and formats around the world, the refreshing of the company's wholly own channel portfolio and laying the foundations for strong digital revenue growth.

Following a strategic review and reorganisation three years ago, BBC Worldwide now operates six businesses: Global Channels, Global TV Sales, Content & Production, Magazines, Home Entertainment and Digital Media.

Home Entertainment enjoyed a profit of £24.4m over the previous year. However, losses in the Children's section (previously a standalone business) continued and the business was moved into the HE sector where it could benefit from the combined management expertise in publishing and licensing.

Sales from merchandising licences grew to almost £9m - its higest level for five years. Doctor Who was the fastest growing licence in the UK children's market in 2006.

"BBC Worldwide has achieved a three-fold increase in profits in the last three years," said John Smith, chief executive at BBC Worldwide. "We have exceeded expectations in most of our businesses over the past 12 months, reflecting healthy returns from our new Channels business, strong TV catalogue sales and growing demand internationally for BBC formats."

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