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Finance Notes: Anta Sports Products Reports Record Earnings

Chinese sportswear maker Anta Sports Products reported "record earnings" for '16 as the Rio Olympics "reinvigorated sports enthusiasm," triggering higher attendance for both winter and summer recreational sports "across a wide range of age groups and cultures." Net profit "leaped" 16.9% year-on-year to 2.39B yuan ($348M), "in-line with consensus analyst estimates" of 2.34B yuan ($340M). The company reported '16 revenues were up 20% year-on-year to 13.35B yuan ($1.94B) (SOUTH CHINA MORNING POST, 2/22).

Recon Group, the Chinese owner of League Championship side Aston Villa, is taking a $100M "controlling stake" in Millennium Films, the Hollywood producer of one of the Rambo films and The Expendables franchise. Recon said on Thursday that its Recon Holding subsidiary was acquiring a 51% stake in Millennium, an independent film producer founded in '96 by Avi Lerner and Trevor Short (FINANCIAL TIMES, 2/23).

Twitter "found a bright spot in Brazil." Advertising revenue rose about 30% in Brazil last year, Twitter's top exec in the country said, "defying a two-year slowdown in the local economy" and more than doubling the company's 13% revenue growth globally. Twitter, which does not break down its revenue by country, "gave no concrete sales numbers in Brazilian or U.S. currency." A "surge of interest in real-time marketing around the Olympics" brought new clients to the platform (REUTERS, 2/23).

Nine Network's revenue and earnings have fallen at a "slightly higher rate than the metro free-to-air TV advertising market contracted in a challenging first half" of fiscal year '17. The group reported a 5% drop in revenue to A$659.2M ($508.7M) and 6% decline in earnings to A$101.4M ($78.3M) compared to the same period in fiscal year '16. Nine's results were "negatively impacted by the Olympic Games but buoyed by strong ratings after" the Games (AD NEWS, 2/23).

League Two side Blackpool's "controversial owners were taken to the cleaners in a multi-million pound court case" by club President Valeri Belokon. The Oystons face a "mammoth bill" -- which stands at a minimum £2M ($2.51M) but is "likely to soar far higher" -- after losing against the Latvian in Manchester's High Court. Belokon filed for a share of profits from Bloomfield Road's south stand, which his £4.75M loan nine years ago "helped to build" (London DAILY MAIL, 2/23).

English Premiership side Northampton Saints announced its intention to raise £1M ($1.26M) for investment in its playing squad next season "by issuing further shares to existing major shareholders." In another signal from the Premiership that "increasing player costs are pressuring sustainability," club Chair Tony Hewitt said that "this further investment is important in helping the club achieve its ambitions on the pitch." Northampton Saints has been "profitable for each of the past 16 years without the need for external investment despite being competitive on the pitch and developing a modern stadium" (RUNNING RUGBY, 2/22).

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