UTV reports 12% rise in profit

UTV Media, owner of talk radio station TalkSport and the Northern Ireland franchise of ITV, has posted a 12% rise in first-half pre-tax profit. The group attributes the rise to it non-TV businesses.

It has also reported that group pre-tax profit for the first half was £10.4m, before one-off costs on sales up 8% to £62m. Operating profit from other businesses, such as radio and the internet, rose 32% year-on-year to £9m, with total revenue up 15% to £36.4m. Ulster-based UTV owns more than 20 radio stations across the UK and Ireland.

The group saw a 4% decline in revenue from TV advertising to £18.3m over the period and it forecasts a further decline of 5% for the next quarter. It compares to a predicted 13% fall in revenue for ITV and a 9% decline for the wider industry.

Group chief executive, John McCann, says: “I am particularly pleased to report strong performances in both our radio and news media divisions.”

He adds that the performance is a further indication that the group’s strategy of diversifying out of pure TV is “the right one”.

Latest from Marketing Week

NOT REGISTERED? IT'S FREE, QUICK AND EASY!

Access Marketing Week’s wealth of insight, analysis and opinion that will help you do your job better.

Register and receive the best content from the only UK title 100% dedicated to serving marketers' needs.

We’ll ask you just a few questions about what you do and where you work. The more we know about our visitors, the better and more relevant content we can provide for them. And, yes, knowing our audience better helps us find commercial partners too. Don't worry, we won't share your information with other parties, unless you give us permission to do so.

Register now

THE BEST CONTENT

Our award winning editorial team (PPA Digital Brand of the Year) ask the big questions about the biggest issues on everything from strategy through to execution to help you navigate the fast moving modern marketing landscape.

THE BIGGEST ISSUES

From the opportunities and challenges of emerging technology to the need for greater effectiveness, from the challenge of measurement to building a marketing team fit for the future, we are your guide.

PERSONAL AND PROFESSIONAL DEVELOPMENT

Information, inspiration and advice from the marketing world and beyond that will help you develop as a marketer and as a leader.

Having problems?

Contact us on +44 (0)20 7292 3711 or email subscriptions@marketingweek.com

If you are looking for our Jobs site, please click here