SMG’s final results for 2006 show that its pre-tax profits were £10 million, a decline of 50% from 2005, whilst revenues were down 8% on 2005.
The company’s TV revenues were down 8% to £125.6 million with its radio revenues recording a 3% drop to £21.7 million.
Pearl & Dean’s revenues were also down, 31% to £20.6 million, although Primesight’s revenues were up 13% to £23.3 million.
Rob Woodward, chief executive: “I believe passionately in the future of SMG and I am confident that with our new strategy, our strengthened leadership team, our enthusiastic staff and a period of financial stability we will deliver for all our stakeholders.”
Yesterday, SMG announced that executive director Donald Emslie has resigned from the group’s board of directors and also stepped down from his executive role within the company (see Emslie Resigns From SMG Board).
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