Proactive Investors - Run By Investors For Investors

FFI warns again as contract delays and smaller film budgets affect numbers

Contract timing issues, smaller budgets and reserves for possible claims will affect results
Hollywood
FFI is feeling the pinch from contract delays

FFI Holdings Plc’s (LON:FFI) annual results this year to March will be lower than previously indicated due to weak revenues in the core film insurance business.

The film insurer warned over trading in December but said contract timing issues, smaller budgets and reserves for possible claims will also affect results this year.

FFI’s insurance agency business had also been hit by delays in some larger production titles scheduled for this quarter, which are now expected to fall into the next financial year.

All told, the combined impact on underlying earnings is expected to be approximately US$6mln.

Provisionally, FFI now expects underlying EBIT to be in the range of US$7.5-US$11.5mln, but added there remains a lot of uncertainty over the final outcome.

View full FFI profile View Profile

FFI Holdings PLC Timeline

Related Articles

Augmented Reality on phone
March 22 2019
The firm currently has around nine companies in its portfolio that are either direct investments or through its sub-fund, Suir Valley Ventures, in which it holds a 22% stake
Live Company
July 05 2019
In June 2019 the company signed a five-year deal to create tours themed around properties owned by children’s television network Nickelodeon
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