Granada Confirms Difficult Market With Interim Results

Granada has confirmed a gloomy outlook for TV revenues in the coming months with the release of its interim results today. In the face of a 5.4% drop in broadcast advertising revenue for the first half, the company is has warned of cost cutting measures, including, it is believed, the loss of 100 jobs, in order to save £30m over the next year.

In the chairman’s statement, Granada also warned that the difficult market was set to continue, forecasting a 10% decrease in ad revenue for the nine months to June this year.

Further analysis of today’s results will appear on Newsline later today…

Granada: 020 7620 1620 www.granada.co.uk

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