VTR Vtr

RNS Number:4465K
VTR PLC
21 December 2007


                                    VTR plc

      UNAUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2007



Highlights

The Board of VTR plc, the media services group, is pleased to announce its
results for the six months to 30 September 2007 which are presented under
International Financial Reporting Standards (IFRS) for the first time.

Overview
     
*    Adjusted pre tax profits of �527,000 on turnover of �9,280,000

*    Second consecutive set of profitable figures

*    Successful integration of businesses into Prime Focus London and Blue

*    VTR plc in London now benefits from a truly global offering - drawing on 
     the strengths and resources of the Prime Focus Group of companies in Los
     Angeles, New York, Vancouver and Mumbai

*    VTR plc to continue to identify investment opportunities to strengthen
     creative talent and facilities offering in London

Namit Malhotra comments, "I am pleased to be able to report our second
consecutive set of profitable figures since I became chairman. Our business is
starting to fulfill its potential. We at VTR are working harder and are
beginning to experience the benefits of having a truly global offering. The
creative talent and capabilities within the Prime Focus Group put VTR in a
strong position to deliver sustained value to its shareholders."


For further information, please contact

Ryszard Bublik   - Parys Communications                            020 7622 9951
Neil Lane        - Managing director                               020 7437 0026
Philip Davies    - Charles Stanley Securities (Nominated Adviser)  020 7149 6000


                              Chairman's Statement

The Board of VTR plc is pleased to announce its unaudited results for the six
months to 30 September 2007 which are presented under International Financial
Reporting Standards (IFRS) for the first time.

VTR plc changed its accounting year end from August to March in 2007 and the
first period under the new year end was the seven months to 31 March 2007. As a
result of this change no interim accounts were produced and the comparatives in
this statement are for the seven month accounting period to 31 March 2007.

In addition the comparative figures are the restated figures under IFRS rather
than those reported under UK GAAP at the end of last year. Full disclosure of
the effects of the transition to IFRS are included in the body of the Interim
Report.

In September the Group made a profit before tax of �527,000 on a turnover of
�9,280,000 compared to a profit before tax of �646,000 on turnover of
�10,604,000 for the 7 months to March 2007. Earnings per share were 1.5p per
ordinary share (7 months to 31 March 2007: 2.3p).

Net debt fell from �3,558,000 at 31 March 2007 to �2,959,000 at 30 September
2007 and gearing subsequently fell from 38% to 29% for the same period ends.
Capital expenditure in the period was �613,000.

I am pleased to be able to report our second consecutive set of profitable
figures since I became chairman. I regard the six months to 30 September 2007 as
being the finalisation of phase 1 of the Group's return to profitability and
growth.

The period saw the completion of some significant aspects of VTR's restructuring
which will allow the company to maximise the potential created by a series of
acquisitions completed by its parent company Prime Focus India. These
acquisitions create a global post-production and visual effects powerhouse
enabling VTR to attract and manage larger scale business.

The merger of Video Tape Recording Limited, The Hive Animation Limited and Clear
(Post Production) Limited into a new division has now been completed and
rebranded as Prime Focus London (PFL), Soho's premier VFX, commercials and
Digital Intermediate facility. The building at 37 Dean Street has been
completely refurbished and redesigned to be more client and user friendly and
the reaction from our customers has been extremely positive. PFL has upgraded
the major editing suites to the latest revision of software and added a 4K
telecine, for high definition film grading, and a new projection suite for their
Digital Intermediate operations.

The merger of The Machine Room Limited and Blue Post Production Limited has also
been completed and both companies are now operating under the "blue" banner in
one building. Blue has gone from strength to strength in its market and client
perception, winning the Promax best Broadcast Post Production Facility 2007. It
has also expanded considerably by doubling both its on-line and off-line editing
capacity and upgrading its audio suites with the addition of a 5.1 Dolby suite.

K

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