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POSTMAN PAT helped to deliver record results for his owner Entertainment Rights (ER) yesterday.
ER, the intellectual property group that also owns the rights to Basil Brush and Little Red Tractor, said yesterday that pre-tax profits jumped 172 per cent to £6 million in 2005, and turnover increased 21 per cent to £30.7 million.
Mike Heap, the chief executive, said that Postman Pat had been an important factor behind the strong results. The character is seen in the five largest pre-school markets — America, Japan, Britain, Germany and France — and in more than 100 countries around the world.
However, ER’s shares fell 1.25p to 37.25p, a move thought to be linked to a possible downgrade to earnings because of a higher tax charge.
The group also announced a deal with the United States Postal Service, where Postman Pat has been recruited to encourage children in Washington to write letters.
The success of the character also prompted an announcement that ER has been commissioned by the BBC to create a new series starring Pat’s cat, Jess, who will speak for the first time. Mr Heap said that he hoped to find the same success with Postman Pat as the group had with Rupert Bear, which ER acquired in October. An animated series is in production and is expected to air in autumn.
Mr Heap refused to rule out an approach for Chorion, the owner of Noddy, although he said that this was not on the agenda. Chorion is the subject of a management buyout led by its chairman, Lord Waheed Alli, and funded by 3i, the private equity firm.
ER said that it would not declare a dividend for the year.
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