Profits up almost double at UTV Radio
Posted by
Profits up almost double at UTV Radio

Operating profit in UTV’s GB radio division almost doubled to £8.6m from £4.4m in the first six months of 2014, on revenues which were up by 16% to £38.8m.

talkSPORT contributed to this success thanks to additional advertising around the 2014 FIFA World Cup coverage, with the national station maintaining profitability throughout the 2013/2104 football season.

“After the very strong growth recorded during the World Cup period, revenue increases in our GB radio division have moderated to a forecast 5% growth in the third quarter, with talkSPORT expected to be up by 7% and local radio expected to be marginally higher than in the same quarter last year,” the company announced today.

“Irish radio revenues have also maintained growth in the third quarter with a forecast 6% improvement in local currency being offset by a similar adverse movement in currency exchange,” Chairman Richard Huntingford added.

Across the group, revenue grew 13%, pre-tax profit is up 62% and group operating profit saw a growth of 41%.

The Swansea Sound, Wish FM and Pulse2 owner is getting ready to launch a television station in the Republic, ‘UTV Ireland’, and plans are well underway, according to the latest report. It is anticipated to incur a first year operating loss of £2.0m to £3.0m with profitability expected in the second half of 2015.

Hear more radio industry news like this at the top of the hour on inRadio - the radio industry's very own radio station. Listen now in a new window whilst you continue reading RadioToday or press play below.

0 0 738 26 August, 2014 Industry News 9:31 am 20148 Tuesday, August 26th, 2014

Leave a Reply

Looking for something else?

Register

Subscribe to our emails to stay informed about the latest radio news and products delivered straight to your inbox.

Related Posts

Closing Date: Audio Production Awards - September 29, 2016 at 11:59 pm (Online)
The Imaging Days - October 3, 2016 at 8:00 am (Holland)
The Imaging Days - October 4, 2016 at 8:00 am (Holland)
Radiodays Ireland - October 17, 2016 at 10:00 am (Dublin)
Radiodays Ireland - October 18, 2016 at 10:00 am (Dublin)
ARIAS - Audio and Radio Industry Awards - October 19, 2016 at 6:00 pm (First Direct Arena, Leeds)
WorldDAB General Assembly 2016 - November 9, 2016 at 10:00 am ()
Audio Production Awards - November 24, 2016 at 6:00 pm (BFI Southbank, Belvedere Road, London)
More events