Posted: Wed., Feb. 21, 2001, 11:00pm PT

German VCL posts revs, profit jump

Earnings up 27% to $5.6 mil

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BERLIN -- German video/licensing company VCL Film and Medien showed a sharp hike in revenues and profits in preliminary annual figures released Monday.

After a year of rapid expansion, VCL said that revenues had increased 28% to 61 million euros ($56 million). Earnings before interest and tax were up 27% at $5.6 million.

VCL's home entertainment arm accounted for $41 million of its revenues, of which some $20 million came from DVDs.

VCL's top video titles for the year were "American Pie," "The Sixth Sense" and "Sleepy Hollow."

Company's licensing business was up by 28% to $14 million. Video is its traditional biz; VCL broke into licensing more recently on the back of IPO coin.

Last year the company made major inroads into the licensing business, backing three Woody Allen films as well as a slate being developed by Francis Ford Coppola for MGM.

Company acquired Scandi sales outfit Scanbox Media and added key personnel such as Willy Baer and Bodo Scriba, both veteran German players.