U.K.'s Channel 4 Returns To Profitability, Reports Overall Surplus Of $4.6M

The U.K.'s Channel 4 has returned to profitability after two years of deficit, describing '14 as creatively and financially one of its "strongest performances," according to Arif Durrani of CAMPAIGN LIVE. Channel 4's 2014 Annual Report, published on Tuesday, reveals the broadcaster "has met its planned three-year investment and break even business targets," reporting an overall financial surplus of £3M ($4.6M), with cash reserves remaining above £220M ($338.5M) for the fifth year in a row. However, Channel 4 revenues rose by £30M ($46M), just 3%, to £938M in '14, "significantly below the wider ad market growth" of 5-6%. Channel 4 CEO David Abraham "attributed the below par performance" to the impact of the ITV-dominated FIFA World Cup 2014. In total, Channel 4 sales house revenues exceeded £1B ($1.54B) for the fourth successive year (CAMPAIGN LIVE, 6/9).