Radio business booming for UTV
Group operating profits for broadcaster UTV have risen 30 per cent in the last six months. They made a Radio operating profit of ?6.3m, after deducting start-up losses of ?1.4m launching Talk 107 in Edinburgh and U105 in Belfast.
UTV said advertising revenues at both its British and Irish radio stations rose 16 per cent in the six months to end-June while television advertising revenue fell by 6 percent, outperforming the broader ITV network.
John McCann, Group Chief Executive, UTV, said: ?We have once again outperformed our peer groups in delivering improved operating and pre-tax profits in an advertising market which has been challenging for the industry as a whole. I am particularly pleased with the successful integration of the former Wireless Group where a 16% improvement in like-for-like revenue was recorded against a 3% decline in the market. A similar 16% increase in our Irish radio advertising helped lift radio?s total share of group turnover to 56% and share of operating profit to 51%. The television advertising marketplace, however, was weak and, despite achieving a record share of 2.76% of ITV1?s advertising revenue, our television revenue was down by 6%. New media grew strongly with a 16% improvement in revenue.
?Our outperformance has continued into the second half and, although the advertising environment remains difficult, I am confident that the group will maintain its leading position throughout the rest of the year.?