Noddy drives Chorion success

THE unlikely double act of Noddy and Miss Marple came together last year to produce what Chorion chairman Lord Alli described as a year in which the intellectual property group was 'utterly transformed'.

He said: 'The success of Noddy both in the UK and abroad has surpassed all our expectations. That combined with new TV and publishing deals for our crime brands, has led to vastly increased revenues and profits.'

Lord Alli, parachuted in as chairman last April after a boardroom shake-out, today reported a sevenfold rise in pre-tax profits to £3.1m from £400,000 on doubled revenues of £18.6m. The latter included more than £6m from a deal with ITV to produce at least four new Miss Marple productions.

Chief executive Nick James said the group's targets for children's brands in 2004 were to increase revenues from Noddy, move into the US and complete the £25m acquisition of Mr Men. In crime brands, he wants to buy another classic character, develop a TV series for one of the detectives - Maigret, Campion or Fen - and relaunch Poirot on US TV.

But shareholders, who saw the board reject another bid approach from Postman Pat rival Entertainment Rights last month, were warned they will have to hang on if they want a dividend. Lord Alli said the board had decided the group is better served by investing in existing and new classic brands. Earnings per share rose 248% to 6.8p.