COLOGNE — German film dealer Senator ended 2001 in the red but expects to profit on enhanced international activities in 2002.
Sales rose 30% to €140 million ($122 million) while after-tax profit fell from $1 million to a loss of $3.7 million due to higher writeoffs, which include the company’s involvement in theater chain CinemaxX.
Senator expects stable sales and a positive result for this year, driven by growth in its international business through L.A.-based Senator Intl.
Pics in Senator’s program include “Black Hawk Down.”
Earlier this week, Senator denied press allegations that it was involved in sham transactions for a film package.