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14/01/2002
Sanctuary Group report profit hike
The television, music and entertainment Sanctuary Group have reported sharp rise in profits and turnover for the year to September 2001.
The company announced pre-tax profits rose by 88 per cent on the year to £7.7 million, while turnover jumped by 87 per cent to £15.7 million, boosted by strong sales of music back catalogues and music-related merchandising.
Analysts said the higher profits vindicate Sanctuary's decision to diversify away from its original business of group management.
The company used to manage and promote various groups including heavy metal icons Iron Maiden, but has since moved into re-issuing popular back catalogues and producing merchandise under license from, amongst others, Robbie Williams and Kylie Minogue.
Sanctuary owns back catalogue companies Castle Communications and Trojan, as well as merchandising company Bravado. (GB)
The company announced pre-tax profits rose by 88 per cent on the year to £7.7 million, while turnover jumped by 87 per cent to £15.7 million, boosted by strong sales of music back catalogues and music-related merchandising.
Analysts said the higher profits vindicate Sanctuary's decision to diversify away from its original business of group management.
The company used to manage and promote various groups including heavy metal icons Iron Maiden, but has since moved into re-issuing popular back catalogues and producing merchandise under license from, amongst others, Robbie Williams and Kylie Minogue.
Sanctuary owns back catalogue companies Castle Communications and Trojan, as well as merchandising company Bravado. (GB)
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Compass report strong growth despite US attacks
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Compass report strong growth despite US attacks
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B&Q parent company registers huge profit growth
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Axa Insurance In Sell-off Bid
Europe's second-biggest insurer, Axa SA, has said it's in talks to sell part of its UK life insurance unit to Resolution Ltd. for £2.75bn. Axa would receive £2.25bn in cash and the remainder in senior deferred consideration notes, the Paris-based company said in a statement.
Axa Insurance In Sell-off Bid
Europe's second-biggest insurer, Axa SA, has said it's in talks to sell part of its UK life insurance unit to Resolution Ltd. for £2.75bn. Axa would receive £2.25bn in cash and the remainder in senior deferred consideration notes, the Paris-based company said in a statement.
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