Shed hits record highs

Revs up 98%, profits up 209%

LONDON — Revenue at Shed Prods., one of the U.K.’s leading independent production companies, rose 98% to £11.9 million ($21.7 million) for the six months ending February 28. Gross profits were up 209% to £2.8 million ($5.1 million).

Shed delivered three drama series during that period — the fourth series of “Footballers’ Wives,” new army drama “Bombshell” and new children’s drama “The Fugitives” — compared with one series in the same period last year.

Prospects for the current period are also bright with ITV commissioning a fifth series of “Footballers’ Wives,” and the seventh series of “Bad Girls” now airing on the channel.

Shed wants to forge relationships with other U.K. broadcasters. Following legislation in 2003, shingles are now able to retain and exploit secondary rights to programs commissioned by the BBC, Channel 4 and Five. They had previously only been able to do so with programs sold to ITV.

Shed’s flotation on the London stock exchange in March was oversubscribed by a factor of seven. Another leading U.K. indie RDF Media, which makes “Faking It” and “Wife Swap,” floated in May, raising £29 million ($52.9 million).

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More TV News from Variety

Loading