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14/01/2002

SANCTUARY GROUP ANNOUNCE PROFIT HIKE

THE television, music and entertainment Sanctuary Group have reported sharp rise in profits and turnover for the year to September 2001.
The company announced pre-tax profits rose by 88 per cent on the year to £7.7m, while turnover jumped by 87 per cent to £15.7m, boosted by strong sales of music back catalogues and music-related merchandising.
Analysts said the higher profits vindicate Sanctuary's decision to diversify away from its original business of group management.
The company used to manage and promote various groups including heavy metal icons Iron Maiden, but has since moved into re-issuing popular back catalogues and producing merchandise under license from, amongst others, Robbie Williams and Kylie Minogue. It owns back catalogue companies Castle Communications and Trojan, as well as merchandising company Bravado. (GB)
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