Flextech Goes Into Profit And Plans To Expand

Flextech, the cable and satellite provider, has achieved pre-tax profits of £16.4m compared to losses last year of over £18m.

The company also plans to acquire the remaining 61% of The Family Channel it does not already own and buy outright TVS Television Limited. It is also clear that the Sega Channel which has long been rumoured (Newsline 25/01) will be launched by Flextech in July. A 79% interest in a Home Shopping Network will also be acquired.

Flextech’s viewing share of cable and satellite television in multichannel homes rose from 32.4% to 34.4% and Flextech’s channels’ share of basic channel viewing in these homes is currently 27%.

It is Flextech’s intention to float on the Stock Exchange in April.

Flextech: 0171 813 4100