Cable and satellite programming group Flextech this morning announced that turnover for the third quarter was £20.9 million, an increase of 146% on the same period last year. Losses also decreased, falling from £5.7m to £3.8m.
The increased turnover reflects the acquisition of Home Shopping Network Direct in March while most of the losses were incurred as a result of start-up costs for the launch of Playboy TV last year and the Sega Channel this summer.
The company also said that negotiations are continuing with Cox Communications, Pearson TV and BBC Worldwide to acquire the outstanding interests in UK Gold and UK Living which would give Flextech 100% ownership.
Flextech: 0171 813 4100
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