Granada released its financial results today for the year ending 26 September 1998, reporting significant growth in its media and hospitality sectors.
Pre-tax profit showed an increase of 13%, taking it up to £735 million, and turnover was at £3.98 billion, an increase of 10%. The Group’s earnings per share were up 13% to 57p.
Granada’s four broadcasters had a successful year, and the introduction of new sales policies and a new Northern Macro Region made advertising revenue grow 50% faster than the ITV average. The second half of the year saw a year on year increase of more than 12%.
Granada is ITV’s biggest programme supplier, making 85% of its most popular programmes. The group also owns 50% of ONdigital, the digital terrestrial television group which launched its service on 15 November. It recently sold its shares of BSkyB due to the competing position of its ONdigital service in the digital technology market (see Newsline)
Chairman of Granada, Gerry Robinson, commented: “This is a strong performance from our core businesses. We are continuing to provide very significant organic growth in media and hospitality whilst preparing for the future through innovation and investment.”
Granada: 0171 451 3000
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