Entertainment Rights Plc, owner of the rights to Postman Pat and Basil Brush has reported a booming year with annual profits for 2007 up 45 per cent to £12.6 million.
The company said that its revenues rose 129 per cent last year to £68.1 million thanks to what it called the successful integration of Classic Media.
Entertainment Rights said that its net debt however was higher at £107.9 million in 2007, compared to £33.7 million in 2006.
Last year Entertainment Rights re-launched its Postman Pat brand and is currently working on a new series of the children's programme to be launched on the BBC this autumn.
The company also said that its launch of the new animated series of George of the Jungle on the Cartoon Network in the USA in January was showing strong initial ratings success.
Rod Bransgrove, chairman of the company said, Whilst the last 6 months of 2007 were challenging and the overall performance of the Group was below original market expectations, this should not detract from the considerable achievements made during the year.
The acquisition of US-based Classic Media has greatly enhanced the Company's presence in the world's largest media market and the integration of Classic Media has delivered the expected synergies.
Whilst there have been concerns regarding US consumer confidence, the Board has been particularly pleased with the significant increase in DVD sales of the Christmas Classics titles in the USA during the important fourth quarter trading period.