British music company Chrysalis Plc posted a loss for the 13-month period ended Sept. 30, hit by a relatively quiet release schedule and screenwriters’ strike in the United States, and said current trading was in line with its expectations.
The company, which changed its financial year end to Sept. 30 from Aug. 31, reported a 13-months pre-tax loss of £18.8 million ($28.1 million) on revenue of £54.1 million ($80.9 million).
For the 12 months ended August 2007, it posted a pre-tax loss of £6 million ($9 million) pounds on sales of £56.4 million ($84.4 million).
Following the sale of its radio stations, including Heart and Galaxy, for £170 million ($254.3 million) last year, Chrysalis started trading as a fully standalone, independent music company.
On Dec. 11, the music publisher of works by Estelle, David Bowie and Pendulum, terminated all talks related to a possible offer for the company.
In April, Chrysalis ended talks with a would-be buyer — said by industry sources to be rival EMI — after rejecting a £130 million ($194.5 million) cash offer, which valued its shares at £1.55 ($2.32) each.