Topper: 'The worst is over'
SYDNEY — “The worst is over,” Becker Group managing director Richard Becker said Friday 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.
Becker swears he never wants to buy another horror film after experiencing B.O. flops with “Mimic” and “An American Werewolf in Paris,” and he maintains he’s still puzzled by the failure here of “Primary Colors.”
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.
Refocusing on its Australian TV production business, Becker has ramped up its output of gameshows, docus, children’s and sports programs.