TV distribution and production group DCD Media reported a fifth consecutive year of revenue growth on Friday, jumping almost a quarter and making its way through to the group's bottom line.
DCD's turnover for the year ending 31 December grew 24% to £10.2m and operating profits came in at £400,000, compared to the firm's break-even result twelve months prior.

DCD put its progress down to its "historic work undertaken to consolidate the business into a pure-play international TV rights distribution".

Adjusted EBITDA was broadly flat on £800,000 and earnings per share climbed up to 17p from the 1p the firm posted a year earlier.

DCD's chairman David Craven claimed there was still "plenty of capacity to grow in the market going forward".

"Positive trading conditions generally increase competition in the market for quality content and the DCD Rights team have prevailed against the tough commercial challenges which face small independent TV distributors," Craven said.

"The key challenge going forward is to ensure the business has available funding together with strong pipelines and sources for award-winning content to showcase in the library for the coming years. DCD Media is very well placed to benefit from a scaled operation and we fully expect the business to thrive in the marketplace," he added.

As of 1020 BST, DCD Media shares had lost 6.51% to 522.60p.

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