UTV has reported a “resilient” first-half performance, with pre-tax profits of £11.2m (€14.1m) and an over-performing Irish radio portfolio — giving it “a strong platform for growth”.

An advertising boost from the Euro 2012 football tournament helped the owner of radio station talkSport weather “choppy” trading conditions today.

UTV has appointed Richard Huntingford — the former chief executive of London-based media group Chrysalis — as its new chairman.

Chrysalis today said a string of upcoming releases from artists David Gray, Gnarls Barkley and Feeder would help offset a “weak” first half for the music group.

Radio stations including Heart and Galaxy were sold for £170m (€253m) today in a deal involving former ITV chief executive Charles Allen.

The boss of UK music publishing and radio group Chrysalis is today understood to be considering the possibility of a management buyout of the firm’s radio business if private equity backing can be secured.

Media group Chrysalis suggested today it may have turned the corner after a tough year saw it slump nearly £30m (€44.6m) into the red.

Media group Chrysalis hit the right note with investors today after growing radio revenues by 20% since March.

UK Multimedia company Chrysalis have announced half-year pre-tax profits of £600,000 (€945,000).