mcm entertainment back in black in 1H10

mcm entertainment back in black in 1H10

Media production and distribution company MCM Entertainment group (ASX:MEG) has swung back to a first-half profit of $590,000, due to improved online content sales.

The company lifted its revenue 22.8% to $2.2 million, while its net debt shrank to $478,963 from $759,692 in 2H09.

MCM reiterated its inability to provide an adequate earnings forecast for the full year, stating its revenue results from January were well below management expectations – falling 11% behind sales from January 2009.

MEG shares are trading unchanged at $0.180.

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