The erstwhile property security company has completed its change to a fully-fledged film distribution company. It now derives income from licensing its £13m film library for TV broadcasting and DVD - the growth in the latter format is seen as a key development. There is also the possibility of income from its film production activities. To this end it is involved in discussions with a US corporation and an independent French film production business. It was recently appointed worldwide distributor for HandMade Films, responsible for 'Withnail & I' amongst others. The Isleworth studios, bought last year for £13m, are going to be sold. In the year to 31 December, turnover reached £955,000 with a pre-tax loss of £466,000. Comparison with last year's figures is pointless given the changed nature of the business.