BERLIN — German film group Intertainment has seen gross profits in the first half of the year soar by 806% to DM 63.7 million ($29 million), compared to $3.7 million in the year-earlier period. Company revenues rose 949% to $61.65 million.
With a number of pics, including “The Art of War,” “Get Carter” and “The Pledge,” scheduled for release later this year, Intertainment is expecting the positive trend to continue.
Expansion of Intertainment’s activities throughout Europe produced the increase in earnings, said company execs.
Intertainment is expecting annual revenues of around $135 million and profits of some $35 million this year.
Earlier this summer the Munich-based company signed a $500 million deal with Hollywood producers Arnold and Anne Kopelson to finance at least 10 pics.