Profits and dividends for UBC
UBC Media Group has reported a net profit of £620,000 for the first half of its financial year, along with its first dividend to shareholders.
The results cover the first few weeks of operation within UBC of the Radio Lynx business.
The announcement says the company is already trading ahead of the company’s expectations as all BBC programme strands have been renewed, along with a key software contract with XM Sirius.
Simon Cole, Chief Executive is very happy with the figures: "I am very proud to be able to announce the payment of our maiden dividend as a public company. It signals a significant shift in focus for the Group.
"At a time of immense change and difficulty for the media industry, we are using our cash-rich balance sheet to build a strong service proposition with content at its centre. Our early acquisition is performing above our expectations and we have reason to be optimistic about the second half of the financial year."