Videndum plc (VID.L), a provider of hardware and software to the content creation market, Tuesday reported loss before tax from continuing operations of 18.8 million pounds for the full year compared with profit before tax of 42.2 million pounds in the previous year, primarily hurt by the strikes by U.S. writers and actors.
Excluding one-time items, the company posted adjusted profit before tax of 1.3 million pounds, lower than 60.2 million pounds last year.
Net loss from continuing operations was 78.1 million pounds or 24.4p per share compared with net profit of 32.9 million pounds or 97.9p per share last year.
Adjusted basic earnings per share was 8.5p compared with 96.8p a year ago.
Revenue for the year fell to 306.9 million pounds from 442.5 million pounds in the previous year.
Further, the company said that it did not declare any dividend, considering the current circumstances.
"Although industry confidence in the post-strike recovery is strong, the cine and scripted TV market is taking more time than anticipated to recover. In addition, the macroeconomic environment remains challenging, and we have therefore maintained our relentless focus on managing costs tightly, and controlling capex and working capital," said Stephen Bird, Group Chief Executive.
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