PIAS has reported a strong revenue and profits performance in its latest results. The indie giant has posted its financials for the year to December 31, 2018.
PIAS Holdings UK is a managing and parent company and the latest accounts represent the performance of the indie and its subsidiaries.
Total revenues increased by 9% year-on-year to £38.7 million. The group’s operating profit increased by 154.3% year-on-year to £6.69m.
According to the strategic report, PIAS secured growth in both physical and digital revenues.
“Digital streaming revenues continue to grow, especially in relation to the catalogue and also in developing markets,” stated the report. “Revenues from Europe remain a significant part of the turnover.”
The UK was the source of 53.9% of revenues, with Europe generating 31.8%. The remaining 14.3% was from the rest of the world.
Staffing at the indie fell from 140 in 2017 to 114 in 2018.
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