Highlights:
Adjusted profit before tax* of 861,000 compared to an adjusted loss before tax* of 167,000 for same period last year
Group revenue up 170% to 12.1 million (2007: 4.5 million)
Positive EBITDA of 1,056,000 compared to 169,000 in 2007
Multi-platform Entertainment infrastructure established in China and South East Asia,including the acquisition of Yunbo in February, now the 10th largest mobile service provider in China
First global Multi-platform Entertainment Property (MEP), Super Soccer Star, launched in China, now rolling out to rest of the world
* Adjusted Profit/Loss Before Tax is before charges for the impairment of goodwill and share option
expense
CHAIRMAN'S STATEMENT
I am delighted to report Galleon's financial results for the year ended 30 September
2008. The Company has made good progress in executing its media strategy in the
emerging markets, particularly China, which has generated our first annual adjusted
profit before tax* of 861,000 compared to an adjusted loss before tax* of 167,000 for the year ended 30 September 2007. Revenue is up by 170% to 12.1m for the year.
Outlook
2008 was a transforming year for Galleon and we look forward to another exciting
year ahead. Media in China is set to grow further in 2009 particularly in
TV advertising, mobile and online. We believe that this will continue to create
revenues for entertainment that is successfully distributed across these various
platforms throughout 2009.
We have a proven infrastructure in China giving us access to TV, online, mobile and
retail channels. We will continue to drive revenues from this growth market by
developing new global MEPs with Chinese partners or by facilitating access to this
territory for Western brand owners. We will be replicating this network and executing
the same model in South East Asia and the rest of the world leading the way with the
roll-out of Super Soccer Star as a brand.
With a working model and operational network established in a growing marketplace
the Group has the opportunity in 2009 to secure significant, additional long term
revenue streams. We continue to look at strategic partnerships and acquisitions in
these areas to further consolidate our unique position in the global media
marketplace.
and much more.............
Preliminary results for the year ended 30 September 2008 (Issued 19/01/09)