Three year Contract win with

RNS Number : 1252I

Boomerang Plus PLC

05 March 2010

 



Date:	5 March 2010
On behalf of:	Boomerang Plus plc ('Boomerang', 'the Company' or 'the Group')
Embargoed until:	0700hrs

Boomerang Plus plc

Boomerang wins three year contract worth £4 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 produce programming content and links for Cyw, S4C's pre-school service. 

The new contract will run for three years from October 2010 and will be worth £1.33 million per annum. Revenue will be realised from FY2011 onwards. The contract reinforces Boomerang's strong revenue visibility as it is in addition to the £50 million revenue pipeline announced in the Group's interim results released on 25 February 2010.

Last year, Boomerang's children's division won an RTS award for the programme ABC'H' and a children's BAFTA for Rhestr Nadolig Wil. Boomerang is currently in production of My Dad's in Prison for CBBC, whilst Boomerang's subsidiary, Indus, is producing Tough Kids and Children of the Road, also for CBBC. Combined with today's S4C contract win, these programmes will result in the Group producing over 200 hours of children's content next year and strengthen further its position as one of the UK's largest independent children's content producers.

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

"We are delighted to have won this new contract. It reinforces Boomerang's fantastic reputation within the independent children's television production sector, enhances the Group's strong revenue visibility going forward and further strengthens our relationship with S4C.

"We have enjoyed a transformational period over recent months with the addition of Indus, and Method to the Group as well as a series of contract wins. We are proud of our strengths within children's content and will continue to grow our genre portfolio and new and existing relationships with broadcasters."

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For further information, please contact:

Boomerang Plus plc                                                                   Via Redleaf Communications

Huw Eurig Davies, Chief Executive

Mark Fenwick, Finance Director

Altium Capital Limited (NOMAD)                                               Tel: [phone]

Tim Richardson / Melanie Szalkiewicz                                                               

Evolution Securities (Broker)

Adam Lloyd                                                                                   Tel: [phone]

Redleaf Communications (PR Adviser)                                   Tel: [phone]

Anna Dunkin / Lucy Salaman                                                       [e-mail]     

Boomerang Plus plc

§ 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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