Full steam ahead at Gullane

LAST July's £46m acquisition of Guinness World of Records from Diageo powered growth at Gullane Entertainment, owner of Thomas the Tank Engine, in the past six months.

All the 64% rise in turnover to £31.6m in the half year to December was thanks to acquisitions as Thomas took a well-earned rest in a siding following the exertions of his first feature-length movie in the previous year.

But fans will be pleased to know he is already getting up steam at Shepperton studios with a 26-part series in the autumn and another 52 episodes over the next two years.

While the 'super brands' power the growth, chief executive William Harris is also enthusiastic about new home-grown characters such as Yoko! Jakomoko! Toto!, the animated, non-talking bird, armadillo and monkey, who make their debut on CITV shortly. He said prospects for the second half and beyond were strong with positive trading news in the bag.

Profits before tax and goodwill amortisation rose by 36% to £6.3m while adjusted earnings were 48% higher at 14.5p. However, with goodwill amortisation almost quadrupling to £1.28m, reported pre-tax profits were only 16% higher at £4.98m. The dividend is increased by 9% to 1.25p.