Catalyst Media Group PLC
15 August 2007
Catalyst Media Group Plc ('CMG' or the 'Company')
SIS Financial Results
CMG is pleased to announce that the financial results of Satellite Information
Services (Holdings) Limited ('SIS'), of which CMG owns 20.51%, have (today) been
published by SIS.
For the financial year ended 31 March 2007, SIS generated revenue of £135.4
million (2006: £127.6 million) and profit after tax of £16.8 million compared to
£14.6 million in 2006, representing an increase of 15.4%.
The growth in profit after tax throughout the year was principally due to the
ongoing success of SISLink and an increase in revenues derived internationally.
The business has significantly strengthened its market positioning in both
Racing Services and its Uplink Division and revenue growth has been achieved
across all divisions.
Long term contractual agreements are now in place with the majority of SIS's
customers. From 1 April 2007 SIS has four year contracts with in excess of 8,000
bookmakers representing over 75% of the total UK and Ireland bookmakers. The
remainder of SIS's UK and Irish bookmaker clients are on either existing fixed
term or rolling contracts, providing SIS with high visibility on future
earnings. These long term contracts underpin anticipated revenues from the
licensed betting outlets ('LBOs') FACTS service for the next four years. The
business faces a number of competitive threats but the directors of SIS believe
that the company is well placed to withstand these due to its pre-eminent
position in the market.
The SISLink business is the single largest contributor to SIS group
profitability, with about 35% of profits attributable to this division. SISLink
is one of the largest providers of transportable satellite uplink services in
the world, transmitting live coverage every year to broadcasting customers
including Sky Sports News, BBC and ITN.
CMG Chairman, Michael Rosenberg commented, 'We are delighted by the success of
SIS. The business has proved yet again its ability to grow in two core sectors,
the betting industry and the provision of outside broadcast satellite services
and remains a highly cash generative business'.
Enquiries:
Michael Rosenberg / Anna Prestwich
Catalyst Media Group plc 020 7927 6699
James Harris / Angela Peace
Strand Partners Limited 020 7409 3494
This information is provided by RNS
The company news service from the London Stock Exchange
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