DCD Media profits hit by deferred sales

Independent TV distribution and production group DCD Media told investors on Monday that it had seen a "very strong start" to the trading year, but warned that delays to sales would impact its profitability.

DCD Media, the production house behind the likes of Bridezillas and Penn & Teller: Fool Us in Vegas, said several sales set for 2018 had been pushed into the opening weeks of its current trading year.

As a result of the deferred sales, the AIM-listed outfit now anticipates a drop in both revenues and profits in its recently wrapped up fiscal year to £7.3m and £100,000, respectively.

Discussing its 2019 trading to date, DCD said: "The sales team have delivered a very strong start to Q1, with sales that were expected to fall into last year falling into the current year giving cause for optimism for the current financial year."

As of 0935 GMT, DCD shares had sunk 6.67% to 350p.