Ten Alps reports growth in profits
The news comes as the indie, of which Bob Geldof is a director, has acquired the factual media consultancy DBDA for £3.3 million. Ten Alps paid £1 million upfront for DBDA and will pay the remaining £2.3 million over the next two and half years, subject to earnings.
Dawn Boyfield, DBDA's managing director, has agreed to stay for a minimum two and a half years.
Ten Alps chief executive, Alex Connock, said: "We have invested £715,000 internally, made acquisitions and maintained our rapid growth. For the financial year to March 2008 we are planning for further growth."
Revenues were up 63.5% at £69.0 million of which £67.6 million was from continuing operations. Digital revenues up 123.2% at £1.65 million. The company has launched 12 new online channels this year, and will launch the first local government internet TV channel Kent TV later this year.
Connock indicated that further growth was planned, stating: "Today we have acquired another factual content company, bringing pro forma revenues of around £3 million to the Group, and we have other acquisition and organic investment projects for the near term."