- Guidance raised for full year
Mondo’s licensing activities advanced significantly in the first half of the year, supporting a 67% increase in net profit. With Mondo’s developed pipeline, we are confident regarding delivery of the group’s FY17 budget and we increase our FY17e net profit by 5%, broadly in line with management’s raised guidance. We believe Mondo’s c 30% valuation discount to peers is unwarranted given the improving record of delivering to plan.Mondo TV is an Italian-based television company engaged in the production and distribution of animated TV series and full-length feature films for TV and cinema. Co. is involved in the entire production process which includes pre-production, production and post-production. The full production cycle calls for a period of time that generally falls between eight and 16 months. Co.'s distribution activities revolve around the distribution of cartoon series and animated features. TV distribution rights for Co.'s cartoon series are sold to public and private networks including Free TV, Pay TV, Pay for View, Cable TV, and satellite TV.
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