Transformers can't help Maverick

12 April 2012

CHILDREN‘S entertainment group Maverick said its losses widened in 2001, despite more than trebling sales.

The group said its maiden full year results, after its flotation in May, showed its pre-tax loss rose to £225,561 in the year to December from £151,750 a year earlier. Sales rose 250% to 330,889, boosted by the DVD release of ?Transformers the Movie‘, which has so far achieved sales of 500,000.

Maverick chairman Derek Morris said the 2001 performance 'reflects a period of time establishing ourselves for the future growth of the business.'

He said production of a new title, the Snailsbury Tales, is nearing completion and will be delivered to the BBC in May, with transmission expected on BBC digital in July and on BBC1 or BBC2 in September. Snailsbury Tales has also been sold to the Australian Broadcasting Company, including publishing, video and all other merchandising and licensing rights.

The first video production for Mister Fuzzy Felt's Favourite Nursery Rhymes was completed for release this year, while merchandising for the perennial children's favourite, Moomin moved into the apparel market for the New Look fashion retail chain.

Morris said: 'With the imminent delivery of Snailsbury Tales, sales revenues for 2002 should receive a considerable boost not least with the licence fee from the BBC and sales to Australia with further territories to follow.'

He said sales of Transformers DVDs remain extremely strong with a further eight releases in 2002 scheduled, including a box set for the autumn. GI Joe and My Little Pony will also be launched in DVD format.

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