£16.9m pre-tax profits for UTV Media

£16.9m pre-tax profits for UTV Media

UTV Media plc has announced its preliminary results for 2013, including pre-tax profits of £16.9m.

The company recently secured the renewal of its subsidiary UTV's regional Channel 3 licence in Northern Ireland for a further 10 years - and acquired a licence to launch new channel UTV Ireland.According to the latest figures, revenue for the Group fell from £112.3m in 2012 to £107.8m in 2013, due to difficult market conditions in the first half of last year.However, growth in the second half of 2013 is said to have continued in the first three months of 2014 and April is expected to show further strong growth.John McCann, Group Chief Executive of UTV Media plc, said: "The contrasting performances of the first and second halves of the year are evident in these results, with Group operating profit down 36% in the first half of the year and up 10% in the second half."The improvement in market conditions continues into the current year, with all of our divisions recording good growth in the first quarter of 2014."Television revenue has risen by 5%, while Radio GB revenue is up 7% and Radio Ireland revenue has risen by 9%.Further growth is expected in Radio GB in the second quarter of 2014 in the run up to the World Cup, while expansion is ongoing at talkSPORT International.UTV Ireland plans to start broadcasting in January 2015, with its offices based in Dublin and backed up by additional newsgathering and reporting presences in Cork, Galway, Waterford and Limerick.UTV Media pre tax profits for last year fall by just over £3m to £16.9m— Jamie Delargy (@Jamie_utv) March 18, 2014

© UTV

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