HTV Profits More Than Double

HTV has this morning announced results for the year ending December 31, with pre-tax profits more than doubling to £7.3m compared to £3.3m last year.

HTV’s share of net advertising revenue for 1993 was 6.1%, representing income of £91.2 million. This was £85.6 million in 1993. Louis Sherwood, chairman said, ‘The caution I expressed about the full figure at last year’s interim statement proved justified as a strong first half year’s advertising revenue was not sustained in the second half. This was the result of the disruption suffered by most ITV companies changing sales house. The difficulties of the transition are behind us … we can look forward with confidence to 1995.’

He commented,’1994 has been an excellent year for the company. HTV’s growth in 1995 will be fuelled by rising profit contribution from programme making and rights exploitation activities.’