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Eros - Bombay listing approval imminent

September 2010

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • EROS
  • Price:
  • 217p
As expected in our December write up, a very strong H2 has resulted in full year results to 31 March coming in ahead of expectations. Revenues had been down 21% at the H1 stage due to the disputes with the multiplex cinemas, which delayed the release schedule but squashing the releases into H2 meant that the fall in full year revenues was limited to only 4% to US$149.7m. Profit before tax was up 2% to US$49.5m and eps by 4% to 36.5 cents (14.4% tax rate). In terms of new global film releases, in the past couple of years Eros has moved its film release slate more towards higher end movie releases in terms of star cast and production house and the year saw 13 global releases. Success drivers were the box office performances of three ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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