Proactive Investors - Run By Investors For Investors

FFI Holdings stabilises after Weinstein fall-out

Since December trading has been as expected with underlying profits between US$15-18mln , FFI said
Hunger Games
Hollywood business has steadied since December

FFI Holdings Plc’s (LON:FFI) trading has stabilised after a profit warning in December prompted by fall-out from the Harvey Weinstein scandal.

The business specialises in completion contracts, in effect a guarantee that a film or TV programme will be finished.

READ: FFI Holdings buys UK film distributor Signature

Numerous productions were cancelled at the end of last year in the wake of the allegations against Weinstein and other leading Hollywood figures.

Since December, though, trading has been as expected said FFI, which expects to report underlying profits [EBIT] in the middle of a previously indicated range of US$15-18mln in the year to March.

In addition, a documentary about pandas in conjunction with cinema owner IMAX marked a move into original content and was released to good reviews in the US last month 

IMAX intends to release the documentary into more US cinemas and globally later in the year.

Since listing on AIM last year, FFI has been diversifying its operations.

Film equipment rental capacity is up 30% year-on-year, an entertainment underwriting relationship with German group Allianz and motorsports insurance.

Steven Ransohoff, FFI’s chief executive, said the trading in the completion contract business meant he was confident to reaffirm the financial guidance issued in December. 

“Looking ahead, the successful launch of our IMAX collaboration with Pandas to strong critical acclaim early in our new financial year offers us a solid foundation upon which to grow in the year ahead." 

View full FFI profile View Profile

FFI Holdings PLC Timeline

Related Articles

Bloomsbury Publishing
March 19 2019
Peel Hunt expects “superior returns" from the firm’s investment in digital capacity
mobile marketing
April 02 2019
The merger is structured as an offer by Taptica that will see it owning 50.1% of the enlarged group and Rhythm One owning the remaining 49.9%
pills
March 22 2019
The healthcare-focused advisory group boasts good levels of forward bookings thanks to several new business wins at the beginning of 2019

© Proactive Investors 2019

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use