Ten Alps reduces losses
Ten Alps has reduced its operating losses by more than one million pounds, according to its interim results.
However, the media group, which is based in Macclesfield, has seen revenues decrease over the last 6 months to £12.24m (2012: £13.47m).
Over the period operating losses fell to £0.52m from £1.53m in the same period last year.
That’s come through the Group moving “further away from its previous legacy” with a a “simplified management structure and reduced overheads.” It also follows a rights issue earlier this year, where it raised £1m.
It spend £0.04m on reorganisation and restructuring costs.
“The first half of the year has been relatively encouraging. Although we are still not yet profitable, the losses have been reduced significantly from previous years,” stated chairman, Peter Bertram.
“Going forward the focus of the Group will now evolve to increase the quality of the revenues by enhancing our core strengths and expanding the diversity and digital expertise across our divisions.
“Finally, I would like to continue to acknowledge our core asset- our employees. We employ and attract highly talented individuals across all our divisions, and they constantly and impressively create and deliver quality and professional products, something this Board is proud of.”
Broken down by divisions, Ten Alps believes that its North West-based publishing arm does now have “the right foundations to build upon.” This follows a “major rationalisation programme” in this area.
“Although the environment has stabilised it remains challenging in many respects. To address the various risks that the unit faces, the division's management has been concentrating on the delivery of increasingly high quality revenue streams and products. This will provide the ability to upscale new offerings which can expand the diversity of our client base and increase our footprint in new growth markets,” read the statement.
“Further, we have centralised our digital offering in order to deliver a better product to enable us to address a key growth area.
“We continue to monitor advertising sales run-rates, the cost of selling and new business targets as they remain critical to the unit. To that end we have retained the same KPIs as last time namely return to profitability, cash generation, retention of clients and new business wins.”
The Group added that it would continue to invest in TV and radio production (which includes Blakeway North in Manchester), with plans to expand its international sales in America and China.