Equator's small film library and film distribution operation ran into the red at the halfway stage to June. Turnover, derived from licensing its £13m film library for TV broadcasting and DVD, was up from £566,000 to £3.8m but losses also increased from £31,000 to £154,000. The company also sold its studios at Isleworth, Middlesex (which were acquired on 30 June last year for £1.3m) for £1.7m. The proceeds of this will repay borrowings of £910,000 and provide working capital.