Oz co. blames drop on decline of int'l market, Asian sales
SYDNEY — “The worst is over,” Becker Group Ltd. managing director Richard Becker said recently as he closed the books on a forgettable fiscal year for the Australian film and TV production/distribution banner.
Becker contends the company is in a stronger position after directors wrote down by $A4.87 million ($2.9 million) the values of some U.S. and Australian films and made provision for losses in Asia.
In the year to June 30, the Becker Group recorded an operating loss after tax of $2.3 million, blamed partly on the decline of Asian sales and a general softening of the international market for film and TV product. Annual sales revenues rose fractionally to $23.6 million.
Becker swears he never wants to buy another horror film after experiencing B.O. flops with “Mimic” and “An American Werewolf in Paris,” but said he remains bullish about the upcoming release slate for its REP and Dendy labels, which includes “Wrongfully Accused,” “A Simple Plan” and Aussie kidpic “The Real Macaw.”