AMSTERDAM — Fox Kids Europe (FKE) halved its net losses and jacked up its revenues by some 50% in the company’s first half-year earnings report since it launched onto the stock exchange here Nov. 18.
The pan-Euro kids net — which also owns rights to the Saban library, one of the world’s biggest of children’s programming — reported combined revenues of $52.3 million for the six-month period ending Nov. 30, up from $34.9 million a year earlier.
FKE chairman and CEO Ynon Kreiz told Daily Variety the rise was due to growth in every market and in both channel operations and program distribution, and added that the company would be looking for acquisitions.
Revenues in program distribution jumped year on year by 74% to $33.8 million and in channel operations by 47% to $16.8 million. Net losses were pared down from $9 million year on year to $4.5 million as a result of scalability and cost-reduction efforts, Kreiz added.