Galleon claims ‘good progress’
Article Date: Oct 07 2008Entertainment media group Galleon Holdings says it anticipates annual profits ‘at least in line with market expectations’.
London-based Galleon, which chalked up a maiden first-half pre-tax profit of £355,000 in the six months to March, is upbeat about the full year to September. In a confident trading statement, the AIM-quoted company, which focuses on entertainment for China and various emerging markets, says one of its recent acquisitions, Yunbo, has become the tenth largest mobile service provider in the People’s Republic.
Galleon, which has agreed a strategic partnership with Dragonfruit Studios of Atlanta, is faring well with products, notably Chinese interactive TV talent show Super Soccer Stars and Apollo’s Pad, an online animated sitcom aimed at ‘a young male audience’. At 15.75p, the shares have worse than halved in a year and should achieve a re-rating if more normal stock market conditions return and its projects continue to bear fruit.
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