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Photon Kathaas (PKP)

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Thursday 28 July, 2011

Photon Kathaas

Half year trading update

RNS Number : 2147L
Photon Kathaas Productions Ltd
28 July 2011
 



28 July 2011

 

 

Photon Kathaas Productions

 

Half year trading update

 

Chennai, 28 July 2011.  Photon Kathaas Productions Ltd. (AIM: PKP, "Photon Kathaas", "the Company") the South Indian film company, has published a trading update for the six months to 30 June 2011. Trading in the first half has been in line with the Board's expectations with the Company making good progress during its first full trading year.

 

The Board remains confident this performance will continue throughout the rest of the year and expects full year results to be in line with market expectations.

 

As previously announced the Company completed two productions during the period and realised total revenue of approximately $1,270,000 with a gross margin of circa 35%. The first of the films, "Nadunisi Naaygal", was released on 18 February 2011.  The rights for the second film "Veppam", which is scheduled for release on 29 July 2011, have already been sold.    

 

The shooting of the Hindi remake of Vinnai Thandi Varuvaaya, directed by Gautham Vasudev Menon with music by A.R.Rahman has been completed. The movie is a co-production with Fox Star Studios, a joint venture between Twentieth Century Fox and Satellite Television Asia Region (STAR), and is expected to be released in the second half of 2011.

 

In July, PKP finalised three further production agreements:

 

·      The theatrical rights for the small budget Tamil movie, "Thanga Meengal", have been sold before release.  Photon Kathaas is the sole producer of the film, which is due for release during the second half of 2011.

·      The Company finalised a contract with R.S.Infotainment and Sai Sarvanthi Movies to co-produce a Tamil/Telugu bilingual film with an estimated budget of $5m. The film will be directed by Gautham Vasudev Menon and will commence shooting from August 2011.

·      The Company has finalised a contract with a leading production house to produce a large budget Tamil film, directed by Gautham Vasudev Menon featuring a leading film star of the south Indian film industry. Further details of this production will be announced later in the year.

The film is expected to commence shooting during the first quarter of 2012 and made at an estimated budget of $10m.  The movie will be funded by the production house with Photon Kathaas managing the production.  The Company will receive 20% of the profits.

 

On the back of these recently signed agreements and other new projects currently under discussion, Photon Kathaas has a strong production pipeline which should ensure continued good progress during the second half of 2011 and a good start to 2012.

 

Photon Kathaas expects to publish its unaudited interim results for the six months ended 30 June 2011 during the week commencing 8 August 2011.

 

 

Enquires

 

Photon Kathaas


Venkat Somasundaram, Chief Executive

+65 6224 4991

Reshma Ghatala, Head of Marketing

+91 44 2820 2988

Michael Rosenberg

020 7938 4026



Seymour Pierce Limited

020 7107 8000

Nandita Sahgal/Tom Sheldon (Corporate Finance)

Leti McManus (Corporate Broking)




College Hill

020 7457 2020

Adrian Duffield/Jon Davies


 

About Photon Kathaas Productions

 

Photon Kathaas Productions is the first film company specifically created to make and distribute films of different genres to a primarily South Indian audience, speaking the 

languages of Telugu, Tamil, Kannada and Malayalam.

 

PKP Company benefits from a special creative relationship with its Chief Creative Officer, Gautham Vasudev Menon. Gautham is one of the leading directors and producers in South Indian cinema. He has been involved in nine films to date, not only as a director but also as a screenplay writer, an executive producer and a producer. His earlier films include: Minnale (2000), Rehna He Tera Dile Mein (2001), Kaaka Kaaka (2003), Gharshana (2004), Vettaiyadu Vellaiyadi (2006), Pachaikili Muthucharam (2007) and Vaaranam Aayiram (2008).

 

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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