TalkSport Owner UTV Media Profits Rise By 62% Due To World Cup, Improving Economy
TalkSport owner UTV Media’s pre-tax profits jumped more than 60% in the first half, "thanks to a World Cup ad spend boost and an improving economy," according to Mark Sweney of the London GUARDIAN. UTV Media, "which also owns the ITV franchise for Northern Ireland," reported a rise in pre-tax profits of 62% to £10M ($17M) in the first six months of the year. Total group revenues rose 13% to £57.8M ($96M). TalkSport reported a revenue rise of 33% in the first half, "thanks to the World Cup." UTV Chair Richard Huntington said, "After the very strong growth recorded during the World Cup period, revenue increases in our GB radio division have moderated to a forecast 5 percent growth in the third quarter" (GUARDIAN, 8/26).