IFM Intandem

TIDMIFM

RNS Number : 1760W

Intandem Films PLC

23 December 2013

23 December 2013

INTANDEM FILMS PLC

("Intandem" or the "Company")

Trading Update

Intandem Films plc, the London based international film group, is pleased to provide an update following the American Film Market ("AFM"), where the Company marketed a number of new films from its growing slate.

HIGHLIGHTS

   --     The Company now has 20 films on its slate 
   --     It continues to develop new opportunities - including Any Which Way They Come 

-- American Film Market expected to result in standalone gross profits of approximately US$220,000

-- Total revenue to date of c.GBP104,000 (unaudited) in the new financial year beginning 1 July 2013 (excludes AFM revenue expected to be recognised in H2)

The Company has grown its portfolio in recent months - with the number of films on its slate rising from nine in June 2013 to 20 as of today, eight of which are fully funded. Intandem remains fully focused on growing contracted sales, which feed through to earnings via fees and commissions.

Intandem's sales team continues to develop new opportunities and is focused on delivering new films and contracts throughout the year.

American Film Market

The Company showcased a number of films including Gagarin and Vendetta at the AFM in November, which were well received and, as a result, has contracted total sales, on behalf of and to be recognised by third parties, of approximately US$1.8 million. These sales are expected to result in commissions (Intandem revenue) of approximately US$266,000 and gross profit of approximately US$220,000 after AFM expenses, and these are expected to be included within the results for the second half of the current financial year ended 30 June 2014.

The Growing Slate

Intandem now has 20 films in its portfolio and is benefiting from the changes made by CEO Robert Mitchell - as described in today's Final Results announcement.

The Company has previously highlighted a number of films on its slate - including, Second Origin, Famous, Catweazle and Devlin. It is pleased to further update the market with another new title that is expected to enable the Company to build on its recent sales at the AFM. Any Which Way They Come, which is currently being financed and is the follow up from James Fargo - the same writer and director of Any Which Way But Loose, which starred Clint Eastwood; Intandem has been appointed as international sales agent (excluding the US sales territory).

Robert Mitchell, Chief Executive Officer, commented:

"The AFM provided a first class forum to showcase our new and existing films and we had a number of successful meetings with producers, film financiers and bankers. Film markets are important events for Intandem and complement other ongoing sales opportunities."

Contacts:

 
Intandem Films plc 
 Robert Mitchell, Chief Executive          +44 (0)20 7851 
 Officer                                    3800 
 
  Peterhouse Corporate Finance 
  Jon Levinson / Lucy Williams               +44 (0)20 7469 
                                             0930 
  finnCap 
  Ed Frisby / Ben Thompson - Corporate 
  Finance                                    +44 (0)20 7220 
  Stephen Norcross - Corporate Broking       0500 
 
  Bishopsgate Communications 
  Nick Rome/Sam Allen                        +44 (0)20 7562 
  intandem@bishopsgatecommunications.com     3350 
 

Notes to editors

About Intandem Films

Intandem Films plc (www.intandemfilms.com) is a London based international film company. It specialises in raising finance for commercial feature films and selling them to distributors around the world. Intandem closely manages the risk associated with the film industry and does not invest in the production of films from its own resources. Its highest profile film to date was How to Lose Friends and Alienate Peoplestarring Simon Pegg, Jeff Bridges and Megan Fox, for which Intandem raised the finance and sold the film to distributors such as Paramount, Warners and MGM.

About AFM

Founded in 1981, the American Film Market (AFM) quickly became the premiere global marketplace where Hollywood's decision-makers all gather under one roof. Unlike a film festival, the AFM is a marketplace where production and distribution deals are closed.

With 8,000 attendees, 700 screenings, and the industry's largest Conference Series, the event is a pivotal destination for independent filmmakers and business people from all over the world.

Participants from over 70 countries who attended last month's event included acquisition and development executives, agents, attorneys, directors, distributors, festival directors, financiers, film commissioners, producers, writers, the world's press.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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