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Last Updated: Monday, 26 September 2005, 13:12 GMT 14:12 UK
Postman Pat owner profits shine
Postman Pat
Greendale resident Postman Pat cleaned up with the toothpaste deal
UK media group Entertainment Rights has thanked children's character Postman Pat for delivering a rise in profits.

Operating profit surged 56% to 1.2m ($2.1m) for the six months to 30 June.

The company said a licensing deal with GlaxoSmithKline to put Postman Pat on tubes of toothpaste boosted licensing revenues from the character by 140%.

The group, which also owns the rights to Basil Brush and The Tweenies, added that all areas of the business experienced double digit growth.

Entertainment Rights was also upbeat about Postman Pat's potential as he enters the US and Japanese markets - on the HBO and Disney TV channels - after his success during the half-year period.

'Significant opportunities'

"Placing Postman Pat on these prestigious broadcast platforms in the world's two largest toy markets represents a considerable milestone for the brand and offers the company significant opportunities in two of the world's largest economies," chairman Rod Bransgrove said.

The group added that the success of Postman Pat had helped it to overcome the gloom experienced across the UK retail market.

"The UK retail scene has been appalling so we are very pleased with the performance. The kids business hasn't been as badly affected as some other sectors, but we've also been driven by strong releases," chief executive Mike Heap told the Press Association.

Turnover for the first half of the year rose by 37% to 12.4m, up from 9.1m for the same period last year.

As well as also owning the rights to characters like He-Man and the Little Red Tractor, the group owns a library of TV shows featuring the characters which has grown from just 50 hours when it was founded in 1999 to 1,800 hours.




SEE ALSO:
Bob the Builder suitor walks away
22 Apr 05 |  Business
Tweenies maker bought for 3.1m
13 Sep 04 |  Business
Basil Brush set to go worldwide
19 Mar 04 |  Entertainment
Noddy owner rejects bid approach
03 Feb 04 |  Business


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