 Shed's founders have plans for more productions |
Shares in the firm behind TV dramas Footballers' Wives and Bad Girls have proved a hit with investors on their first day of trade in London. Shed Productions shot up 30% on the Alternative Investment Market (AIM).
Other companies in the UK independent production sector - valued at �1.5bn ($2.8bn) - are looking to see if they too could attract stock market backers.
Shed had already made more than �22m from selling a 51% stake in the company to institutional investors.
Scottish Widows are among the companies looking to brighten up their portfolios with a bit of action from the company, which was set up in 1998 by four former executives of Granada TV.
DVD rights
Shed's accounts for the year to last August showed a 39% rise in pre-tax profits to �3.2m, on a turnover of �14.9m.
Its success story has been founded on the hit series Footballers Wives' and Bad Girls, both shown on the ITV network.
Shed said it hoped to expand its programme line-up, and fund future acquisitions.
The company has benefited from recent law changes giving independent production companies the chance to hold onto the rights to their own programmes.
This has enabled Shed to swell the coffers from overseas distribution and sales of videos and DVDs.
Its shares, placed at 88p, were at 114 pence at the close of trade on Friday.
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