Boomerang wins contract with

RNS Number : 4772B

Boomerang Plus PLC

28 October 2009

 



Date:                        28 October 2009

On behalf of:            Boomerang Plus plc ('Boomerang' or 'the Group') 

Embargoed until:     0700hrs

Boomerang Plus plc 

Boomerang wins four year contract with S4C worth £3.2 million

Boomerang Plus plc (AIM: BOOM.L), a multi-genre, independent television production group based in Cardiff, is pleased to announce that it has won, in open competition, the tender to film and broadcast events from the Royal Welsh Showground. Boomerang is the incumbent provider.

The contract, worth £800,000 per annum, will run for four years, from 2010 to 2014 and include broadcasts from the Royal Welsh Agricultural Show, Winter Fair and Smallholder and Garden Festival. First revenues from the contract will be recognised in the financial year ending 31 May 2010. 

This contract was not included in the £42.9 million programming pipeline announced in the Company's preliminary results on 26 October 2009.

Commenting on the contract, Huw Eurig Davies, CEO of Boomerang Plus, said: 

"We are very pleased to renew the Royal Welsh Showground contract with S4C. We have successfully demonstrated our ability to produce high quality programming from the Royal Welsh Showground and look forward to continuing this in the future, a relationship that we value greatly.

"This contract adds to our existing strong pipeline of revenue, further boosting the Group's visibility going forward." 

- Ends -

For further information, please contact:

Boomerang Plus plc	Via Redleaf Communications
Huw Eurig Davies, Chief Executive
Mark Fenwick, Finance Director
Redleaf Communications	020 7566 6731
Anna Dunkin/ Samantha Robbins	[e-mail]
Altium Capital
Tim Richardson/ Melanie Szalkiewicz	020 7484 4040
Evolution Securities
Adam Lloyd	020 7071 4317

Boomerang

• Boomerang, founded in 1994, has extensive experience in producing content in a variety of genres, including extreme sports, youth programming, music, entertainment, children's programming, and drama.

• The market for independent television production companies in the Nations and Regions has grown following quotas from the regulator Ofcom, which require that, depending on the broadcaster, between 10 per cent. and 50 per cent. of qualifying programming hours must be sourced from outside the M25 boundary.

• Boomerang is ranked in the top three independent television production companies, by revenue, in the Nations and Regions according to the Broadcast Survey (Nations and Regions) 2009.

• Boomerang's strategy is both to achieve strong organic growth by leveraging the Group's existing customer base coupled with strategic acquisitions, with a view to becoming a major supplier to UK networks looking to satisfy their Nations and Regions quotas.

 

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