Granada Group has this morning announced annual financial results which show a 35% increase in pre-tax profits to £650 million. Turnover in this period increased from £3.8 billion to £4 billion.
The group stressed its commitment to developing its media operation which it considers a “core” business. In the media division profits rose 20% to £188 million with a £4 million contribution from Yorkshire-Tyne Tees, which Granada acquired in June this year (subscribers see Granada Buys Yorkshire For £711m).
Gerry Robinson, chairman of Granada, said that the company was “optimistic” that Yorkshire, Tyne Tees and GMTV would experience a “positive outcome” from the ITC’s licence payment review.
Granada Group c/o Citigate: 0171 282 8000
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