UTV expects strong recovery in ad market

Pretax profits at UTV rose 28 per cent to £17

Pretax profits at UTV rose 28 per cent to £17.5 million in 2004 as the company reported strong growth across all its media businesses.

The company - best known for its television franchise - also operates radio stations in the Republic and has invested heavily in new media.

Television operating profit increased by 29 per cent to £15.2 million and the company added it was seeing an improvement in advertising revenue.

Chairman John McGuckian said the successful relaunch of Q102 in Dublin combined with strong performances from its radio stations in Cork and Limerick drove total Irish radio advertising up by 8 per cent to £10.9 million in 2004.

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He said UTV expects radio advertising growth of 20 per cent in the first quarter of this year and that further improvement will be delivered by the integration of LMFM which broadcasts to 250,000 adults in Dundalk, Drogheda and surrounding areas.

Continuing growth in the company's broadband customer base helped to lift turnover in new media by 44 per cent to £5.4 million. New media operating profits were maintained at £900,000.