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18/03/2014
£16.9m Pre-Tax Profit For UTV Media
UTV Media plc has unveiled its preliminary results for 2013.
The company reported a pre-tax profit of £16.9m, but due to difficult market conditions in the first half of last year, revenue for the Group fell from £112.3m in 2012 to £107.8m in 2013.
It added that growth in the latter half of 2013 had continued into the first three months of 2014, with April also showing signs of strong growth.
Television revenue has increased by 5%, while Radio GB revenue rising by 7% and Radio Ireland revenue has risen by 9%. Looking ahead, further growth is also expected in Radio GB in the second quarter of 2014 in the run up to the World Cup, while expansion is continuing at talkSPORT International.
Elsewhere, earlier this year, the firm secured a renewal of its subsidiary UTV's regional Channel 3 licence in Northern Ireland for an additional 10 years.
It also acquired a licence to launch its new channel UTV Ireland. The channel will commence broadcasting in January 2015 and will have its office base in Dublin, with additional news gathering and reporting presences located in Cork, Galway, Waterford and Limerick.
John McCann, Group Chief Executive of UTV Media plc, said: "The contrasting performances of the first and second halves of the year are evident in these results, with Group operating profit down 36% in the first half of the year and up 10% in the second half.
"The improvement in market conditions continues into the current year, with all of our divisions recording good growth in the first quarter of 2014."
(JP/MH)
The company reported a pre-tax profit of £16.9m, but due to difficult market conditions in the first half of last year, revenue for the Group fell from £112.3m in 2012 to £107.8m in 2013.
It added that growth in the latter half of 2013 had continued into the first three months of 2014, with April also showing signs of strong growth.
Television revenue has increased by 5%, while Radio GB revenue rising by 7% and Radio Ireland revenue has risen by 9%. Looking ahead, further growth is also expected in Radio GB in the second quarter of 2014 in the run up to the World Cup, while expansion is continuing at talkSPORT International.
Elsewhere, earlier this year, the firm secured a renewal of its subsidiary UTV's regional Channel 3 licence in Northern Ireland for an additional 10 years.
It also acquired a licence to launch its new channel UTV Ireland. The channel will commence broadcasting in January 2015 and will have its office base in Dublin, with additional news gathering and reporting presences located in Cork, Galway, Waterford and Limerick.
John McCann, Group Chief Executive of UTV Media plc, said: "The contrasting performances of the first and second halves of the year are evident in these results, with Group operating profit down 36% in the first half of the year and up 10% in the second half.
"The improvement in market conditions continues into the current year, with all of our divisions recording good growth in the first quarter of 2014."
(JP/MH)
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Northern Ireland WeatherToday:Gale, coastal severe gale, northwest winds ease from late afternoon. Scattered showers will fall as snow over the hills at first, becoming isolated from mid-afternoon. Maximum temperature 7 °C.Tonight:Showers, scattered in the evening, will clear by midnight leaving the night dry with clear spells. Cloud will spread east towards morning. Minimum temperature 2 °C.
