Companies: GON   

Multimedia intellectual property group Galleon Holdings has turned a £357,000 first-half loss into a £355,000 interim pre-tax profit.

The AIM-quoted company, which furthered expansion by acquiring the ‘Yunbo’ mobile service provider in China, increased turnover 146 per cent to £5.8 million in the six months to March. David Wong, the entrepreneur who chairs London-based Galleon, says ‘each of our divisions has gained momentum’ and claims ‘this will continue into the second half of the year’.

Galleon recently syndicated ‘Super Soccer Star’, a successful interactive football TV talent show it co-produces with Guangdong TV Sports Channel, to Shanghai Media Group. Broadcast in southern China’s Guangdong region, the programme, launched by Galleon’s 2007 Chinese acquisition, Phoenix, is one of its top five shows in the region.

Chief executive officer Stephen Green says this success has prompted discussions with satellite broadcasters about a new series in China and another one featuring a different sport. He says he expects the Shanghai Media deal to be the first of a number of agreements ‘as we roll out the Super Soccer Star format to major broadcasters across China and South East Asia’.

Shares in Galleon, which surged from 5.38p to 34.75p between 2005 and last October, now trade at 21.75p, valuing the company at £21.7 million.      

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Galleon Holdings	AIM	£23.7m	23.75p	-0.50p
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Maiden profit for Galleon			27/06/2008
Shanghai deal cheers Galleon			23/06/2008
Green sails into China			03/03/2008
Galleon in new China foray			20/02/2008