DHX Media Ltd raises dividend after Q2 revenue rises 27

HALIFAX — DHX Media Ltd. says it has been experiencing strong revenue growth but its second-quarter profit margin was at the low end of management expectations.The Halifax-based company — which operates several specialty TV channels but primarily creates and distributes TV programs for children and youth — says its revenue in the second quarter was $81.5 million, up 27 per cent from a year earlier.Gross margin increased by 18 per cent to $44.29 million, or 54 per cent of revenue, as an unexpectedly high proportion of distribution revenue came from newer library titles and an abnormally high percentage of live action shows.Halifax-based DHX Media grows up and takes things to the next global levelDHX Media, Alibaba ink deal to sell children’s TV programs like ‘Teletubbies’ in ChinaAmong DHX’s titles are “Teletubbies,” “Inspector Gadget” and the “Degrassi” franchise.Its main specialty channel is Family.Net income for the second quarter ended Dec. 31 doubled to $11.7 million or nine cents per share from $5.5 million or five cents per share a year earlier.Adjusted EBITDA, another measure of the company’s earnings, was $27.8 million — up 16 per cent from $23.9 million.The DHX says its quarterly dividend will rise by 6.7 per cent to 1.6 cents per share, to be paid March 21. read more

Indictments filed in Special High Court against former top officials

The Special High Court has been established to hear cases on major fraud and corruption. (Colombo Gazette) Indictments were also served against former Sri Lanka Insurance Corporation Managing Director Piyadasa Kudabalage and former Samurdhi Commissioner Neil Bandara Hapuwinna. Indictments have been filed in the first hearing at the Special High Court against former top officials.Among those against who the indictments were filed was former President Mahinda Rajapaksa’s Chief of Staff Gamini Senarath. Gamini Senarath, Piyadasa Kudabalage and Neil Bandara Hapuwinna had earlier been accused of missing public funds by illegally investing Rs.4 billion from the Rs.18.5 billion approved by the Cabinet for a hotel project in 2012. read more