Final Audited Results 2014

Final Audited Results for the Year Ended 31 March 2014

Papa Entertainment Plc (ISDX: PAPP), a specialist UK group focused on the music and media industries, today announces its final audited results for the year ended 31 March 2014 (the “Period”).

Highlights

– Revenues for the Period totalled £1.05 million (15 months to March 2013: £31k)

– Loss for the Period after taxation was £2.3 million (15 months to March 2013: £874k)

– Revenues from ‘Raiding the Rock Vault’ at a record high

– Favourable contract renewed with Westgate Las Vegas Rose & Casino for ‘Raiding the Rock Vault’ (formerly Las Vegas Hotel & Casino)

Commenting on the final results, Korda Marshall, Non-Executive Chairman of Papa Entertainment plc, said: “Over the course of the year we have seen the Raiding the Rock Vault show grow both in popularity and attendance. It is frequently being ranked as the No. 1 show in Las Vegas (according to TripAdvisor) which has helped us achieve record revenues.

In December 2013, the Company’s contract with the Westgate Resort & Casino in Las Vegas (formerly known as the Las Vegas Hotel & Casino) was renewed on significantly enhanced financial terms for Papa Entertainment. We intend to keep developing Raiding the Rock Vault as well as develop the music publishing part of the business, Mission Group, in the coming year.”


 
 

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