Flextech, the cable and satellite programming group, has announced interim results which show pre-tax losses increasing to £7.8 million compared to a loss of £7.6m last year. Turnover increased by 63% to £24.8 million and subscription revenue rose by 47% to £13.4m. Ad revenue also showed good growth – increasing from £1.5m to £2.4m.
Most of Flextech’s losses were the result of setting up new ventures such as Playboy TV, Sega Channel and Home Shopping Network Direct. EBN performed poorly, contributing a loss of £2.5m during the first six months.
TCC’s ad revenue grew by 51% and Bravo experienced a 17% increase in adult viewing share while ad revenue grew by 48%.
Flextech: 0171 813 4100
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