HTV Results – Profits Up 120%

HTV’s half year results for the 6 months to June 30th 1995 show pre-tax profits up by 120% to £6.1 million, record results for HTV.

33% of the Group profit in the first half came from the Rights Division; this includes programmes such as Wycliffe, films such as Dumb and Dumber and cable and satellite programming. In May HTV launched their second local cable television service for the Cable Corporation in Windsor.

The sale by Flextech of their 20% stake in HTV is not expected to have any effect on profits, and HTV will continue to work with FLextech on cable and satellite production. HTV is a 20% partner in the Virgin TV consortium which bid for Channel 5, and they are still awaiting the ITC decision.

Chairman, Louis Sherwood said prospects for HTV are excellent, with their strategy of investing in programme production and rights exploitation they are reducing their dependence on advertising revenue. He also denied that they are in any merger talks with Scottish TV.