MCM report profit
After a challenging end to 2011 which saw its Chairman removed and a number of significant board changes, MCM Entertainment Group have reported their financial results to the market for the six months to 31 December 2011.
The consolidated groups revenue is up 43% on pcp to $ 16.35m, and EBITDA has increased to $ 1.05m from a loss of $ 0.61m.
MCM Entertainment Group consists of three business units – MCM Media, Igloo and Movideo. The improved position on pcp has been driven primarily by an increase in sales revenue for MCM Media and Igloo.
The group did not break down the performance of its Movideo business, aside from noting an increase in revenue of $ 0.23m. However, given Movideo incurred a net loss after tax in FY11 of $ 1.96m it is likely that this remains the core challenge for MCM moving forward.