Overseas interest drives up proftis
Film and TV production company Beyond Intl. has announced a 40% lift in net profit from A$3.1 million ($2.6 million) to $3.6 million driven by overseas interest in its factual content.Revenues showed only modest growth — up 4% to $56.7 million — reflecting the closing of Beyond’s film division last year. Closure was a result of the division losing money for the group . Beyond topper Mikael Borglund said the group’s strong result was due in part to the strength of its nonfiction TV stable. “We continue to see strong growth in the international sales of our television productions, driven by interest in programs such as ‘Mythbusters’ and (Nine Network’s health skein) ‘What’s Good for You,’ “ Borglund said. Borglund added that the outlook for the next financial year was positive, with earnings tipped to rise by about 15%-20%.