News - Bueno Investments Limited

RDF profits from wider programming

The TV team behind Wife Swap and Scrapheap Challenge banked soaring profits amid the success of new shows such as The Secret Millionaire and Fallen Angel.
RDF Media said pre-tax profits rose from £4 million to £7.1 million in the year to January 31, as it benefited from a broader range of programmes.
It added that this helped increase sales to other broadcasters outside its key customer, Channel 4, with sales to the BBC and ITV rising to £21.4 million, compared to £11.5 million last year.
This was aided though its three acquisitions during the year - Foundation, Comedy Unit and Presentable - which gave it access to children.s TV, comedy and specialist entertainment programme making respectively.
Chief executive David Frank said the diversification of the business reduced risk to the company at a time when it is faced with more television channels and a fall in advertising revenues at broadcasters. Traditional broadcasting has also come under increased competition from the emergence of new technologies such as mobile TV and broadband.
UK Production saw a 113% rise in profits following repeated orders for its core programmes, such as Wife Swap, Shipwrecked, Dickinson.s Real Deal and The Secret Millionaire, which won the Rose d.Or television award for best reality series earlier this month.
The group.s drama division IWC was boosted by the success of ITV drama Fallen Angel, which attracted an audience of 6.7 million.
Additionally, changes to regulations requiring broadcasters to increase commissions from outside London also benefited the firm, due to its bases in Glasgow, Cardiff, Maidstone and Bristol.
RDF.s US business also experienced strong growth with turnover up 36%, despite a change in management over the last 18 months.
The group said the launch of its digital division in February was progressing to plan, while its rights business, which sells the intellectual property rights of its programmes to third parties, saw profits rise by more than 28% in the period.