Film distributor Works has cranked its UK distribution arm up to one cinematic release a month and wants more cash to raise its game on the international scene.

The distribution business ‘pays less’ than its competitors for catalogue rights, says chief executive Norman Humphrey, and looks for a ‘hook’ that will bring in stronger DVD sales. For example, the eye-catching actresses Kelly Brook in Three and Sienna Miller in Interview are likely to lure teenage males, and quirky Ten Canoes and Paris Je T’Aime should tap the art-house market.

Ten times as many people have bought Three on DVD as saw it at the cinema, indicating the ploy is already reaping results as Works’ earlier purchases are launched into the DVD market via a deal with Universal Pictures. Forthcoming theatrical releases include The Killing of John Lennon, Dickie Attenborough-directed Closing the Ring, and, starring much of the Russian and Chinese armies on horseback, Genghis Khan epic Mongol.

As regards cash, the company raised £500,000 in May and had £691,000 at the end of June, having boosted revenues 7% to £810,000 and cut pre-tax losses 23% to £134,000 in the previous six months. In October, Works raised another £760,000 at 3p with Costa Theo, filmmaking scion and a director of the family that owns diverse Greek industrials group Theta, raising his stake to 30%.

Wary of being too dilutive, Humphrey wants to raise even more money ‘off the balance sheet’ to step up the international sales business and is ‘kicking the tyres’ of a number of potential acquisitions as well. He says the Theo family ‘would support’ the purchase if needed, but wants to bring in other similarly supportive shareholders too.

‘There’s no point being a quoted £5m company,’ booms Humphrey, ‘we need to raise the bar.’ Now less volatile than under previous regimes, the shares could be worth a speculative punt.

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Works Media Group (The)	AIM	£1.84m	1.25p	0.00p
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Works Media			19/11/2007
Works Media			05/04/2007