VTR Vtr

    RNS Number : 7293B
  VTR PLC
  20 August 2008
   

    VTR PLC
    Audited Results for the year ended 31 March 2008

    Highlights

    The Board of VTR plc, the Media Services Group, is pleased to announce its audited results for the twelve months to 31 March 2008 

    Overview

    *     Pre tax profits of �472,538 (7 months to March 2007: �646,422) after an exceptional charge of �604,461 which represents payment
made in settlement with former director
    *     Turnover �17,964,406 (7 months to March 2007: �10,604,289)
    *     EPS 2.11p (7 months to March 2007: EPS 2.30p)
    *     Business units continue to perform well in challenging market
    *     Acquisitions successfully integrated into core business and perform beyond expectations 

    Corporate Restructuring

    *     VTR plc is to undergo a corporate restructure designed to better reflect the global nature of the Prime Focus Group of Companies.
This process will create a transparent corporate structure for stakeholders and the financial community and reduce the total number of group
companies from 12 to 6.

    *     VTR plc name to be changed to Prime Focus London plc.

    *     Includes a global re-brand which aims to create distinct sector specific offerings in line with the parent group's objectives. The
re-branding exercise will take place both at holding company level and operating level.

    *     Five distinct business units to be created:

    *     New company (name to be agreed) to be formed & newly branded to focus on advertising, acquiring the commercials business of Prime
Focus London Limited (formed through the merger of the businesses of Clear, VTR Limited and The Hive) 
    *     Blue Post Production Ltd to focus on broadcast, dubbing/duplication, mastering, restoration and allied services
    *     Machine Effects Ltd to focus on film and visual effects
    *     New Company (name to be agreed) to be formed to takeover the existing asset management business of the Group (Clipstream Ltd and
the online business of The Machine Room Limited). 
    *     K

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