Alliance Entertainment reported better profits in its second quarter. This news came from the company’s announcement about its finances.
The company’s revenue fell to £369 million. This is less than last year’s £394 million. However, profit rose to £47.1 million. Net income, which is the money left after costs, also increased to £9.4 million. This is good news because it shows the company is making more money even if sales are lower.
Alliance is focusing on higher value items. They want to sell premium formats and collectibles. This means they are selling more expensive and special products. Sales from physical movies grew by 33%. The company has exclusive deals with famous studios like Paramount and Amazon MGM.
Alliance ended the quarter with £74 million in working capital. They recently changed their loan to save money. This gives them more options for the future. The company is planning to work with studios and release new products in the coming months.
Vocabulary List:
- Revenue /ˈrɛvənjuː/ (noun): The income generated from normal business operations.
- Profits /ˈprɒfɪts/ (noun): Financial gain the difference between the amount earned and the amount spent.
- Capital /ˈkæpɪtəl/ (noun): Wealth in the form of money or assets owned by a person or organization.
- Exclusive /ɪkˈskluːsɪv/ (adjective): Restricted to a particular group or a limited number of people.
- Collectibles /kəˈlɛktəblz/ (noun): Items that are worth collecting due to their rarity or demand.
- Formats /ˈfɔːrmæts/ (noun): The arrangement or layout of something particularly in media or technology.
