Radio helps boost UTV profits 11%

Ulster Television has announced record results for the six months to the end of June this year.

Operating profit before exceptional items was up 11% to £9.6m (€14.2m), compared with £8.6m (€12.8m) for the same period last year. Group pre-tax profit before exceptionals was up 11% to £9m (€13.4m), compared with £8.1m (€12m) last year.

The group's assets in Ireland include UTV, six local radio stations and UTV internet, which provides telephone and broadband services.

On June 6, it acquired The Wireless Group, owner of Talksport, Britain's national radio sports station (for £97m - €144m) and 16 independent local radio stations.

Thanks to the group's acquisitions, operating profit at its radio interests was up 150% to £1.9m (€2.8m), compared with £0.8m (€1.2m) last year. Operating profit at the TV operations held at £7.3m (€10.8m) but was down in the group's new media operations, to £400,000 (€594,000) from £500,000 (€742,000). However, new media revenue grew by 56% to £3.9m (€5.8m), up from £2.5m (€3.7m).

Radio advertising in Ireland was up 36% to £6.5m (€9.6m).

UTV chairman John McGuckian said: "The outlook is promising in radio and in television tight cost control should help us to overcome a soft advertising market. New media has had a strong first half with turnover up by 56% representing significant growth in its customer base in internet and telephony services."