Strong advertising growth sees UTV profits surge 50% to £13.9m for 2004

ULSTER TELEVISION’S (UTV) profits shot up by nearly 50% last year despite flat operating earnings from its radio stations.

UTV said pre-tax profits for 2004 were £13.9 million (€20.1m) compared to £9.5m the previous year. It attributed the increase to strong growth in advertising revenues, particularly from its television business.

Group turnover for the year was 18% ahead at £63.5 million. The company said its 16% rise in television advertising revenues for the year contrasted very favourably with the 2.6% growth with the rest of the ITV franchise in Britain.