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MPH - Australian Movie Star!

  1. Great announcement today. Strong growth in an interesting market. MPH has not been discovered yet and therefore is still cheap!

    MAGNA PACIFIC (HOLDINGS) LIMITED 2002-07-23 ASX-SIGNAL-G

    HOMEX - Brisbane

    +++++++++++++++++++++++++
    Australia`s largest independent film distribution company Magna
    Pacific (Holdings) Limited (MPH) said strong growth in DVD sales
    would drive revenues up 60% this financial year to more than $20
    million, from $12.5 million in 2002.

    DVD movie sales in Australia increased 204% to 791,607 for the year
    to June 30, 2002 from 260,211 DVD movies sold in financial 2001,
    according to independent market research company GfK Group.

    MPH managing director Allan Radley said DVD movie sales was one of
    the main drivers for growth for the Brisbane-based company, which
    buys the rights for movies and distributes them on DVD, video,
    television and through the cinemas.

    "DVD now represents more than 60 percent of our business in revenue
    and the impact of DVDs hasn`t fully hit here in Australia yet," he
    said.

    "We believe we are at about 1989 in equivalent terms to the CD
    business and DVD will follow."

    "The growth is so strong that in the next three months, we will
    produce more DVDs than for last full financial year."

    Mr Radley said strong growth would also be seen in DVD hardware with
    about 1.4 million DVD players in Australia, expected to grow to about
    2 million by Christmas.

    He said MPH would also benefit this year from the roll out of up to
    12 cinema release movies through the company`s partnership with
    listed Australian company Becker Group Ltd.

    "The strength of the DVD market is that everyone has embraced one
    technology, unlike video where the technology was split between VHS
    and BETA," he said.

    "DVD technology has been so well embraced, I can see it staying for
    15-20 years."

    Magna Pacific has 110 titles on DVD and will have a total of 240
    titles on DVD by the end of financial year 2003. Recent titles
    released include Australianmovie Rabbit Proof Fence; internationally
    acclaimed romantic comedy Amelle; and Enigma with Kate Winslet.

    The company holds one of the largest independent film libraries in
    Australia with in excess of 3000 titles, including movies such as
    Dances with Wolves; Wonder Boys; Four Weddings and a Funeral and
    Primary Colors.

    Magna Pacific`s DVD of Australian WW1 epic, The Lighthorsemen,
    recently received a DVD Excellence Award for Audio Quality and
    Presentation at the 2002 DVD Excellence Awards in Los Angeles. One of
    the first Australian film DVDs to combine Dolby Digital 5.1 and DTS
    audio tracks, The Lighthorsemen took its place in the top echelons
    among titles including Pearl Harbour and Atlantis: The Lost Empire.

    Magna Pacific expects net profit before tax for financial year ended
    2002 will be between $900,000 and $1 million, with NPBT expected to
    grow to $1.7 million for the financial year ending 2003.

    BACKGROUND ON GFK GROUP

    GfK Group is an internationally recognised market research firm which
    provides the film, video, DVD and cinema industry with independent
    figures on sales within the sector. GfK was established 68 years ago
    and has offices in 51 countries and is one of the leading market
    research companies in the world.

    For further information please contact:

    Clive McKee
    CHAIRMAN OF DIRECTORS
    Ph: +61 40 888 1818
    Fax: +61 7 3267 1116
    Email: [email protected]

    Allan Radley
    MANAGING DIRECTOR
    Ph: +61 7 3267 1113
    Fax: +61 7 3267 1116
    Email: [email protected]

    Website: www.magnapacific.com.au

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