StockMarketWire.com - Music rights investor One Media iP posted a modest first-half profit after rising sales were offset by expenses.

Pre-tax profit for the six months through April amounted to £0.36 million, down from £0.40 million year-on-year.

Revenue inched up to £2.10 million, from £2.03 million and gross profit rose 6.7% to £1.07 million.

Chief executive Michael Infante said he was 'pleased' with the results in what were extraordinary times due to the pandemic.

'Streaming has now replaced nearly all aspects of downloading and with iTunes discontinuing its downloading store, we are set to continue delivering our content.'


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