Profits Soar For Yorkshire Tyne Tees

Yorkshire Tyne Tees Television published its final results today for the year ending 31 December 1996.

1996 was a good year for the company; YTTV’s turnover was £270.8 million and profits, before tax, were up 40% year-on-year to £30.2 million. Earnings per share rose at almost the same rate to 39.7p, a 38% increase on the previous year. The recommended final dividend has been set at 11.2p per share.

1996 proved a record year for both company profits, and programme commissions. Chairman, Ward Thomas, said in his statement: “This result has been achieved by stringent cost controls combined with strong programme output, with programme revenues up 9% and costs, excluding licence fee, being held steady in spite of an increase in programme activity. Programme-making will continue to be our prime development, and I anticipate that expansion in that direction will take-up all our skills, energy and financial resources in the coming years.”

There has been some disappointment in the advertising sales division of the company. Sales in this area fell to 10.31% of total ITV advertising revenue, this was more than £12 million below the expectations set at the start of the financial year. However, ad revenue is on the up for this present year, and YTT TV is now confident of achieving this year’s lower forecast of a 10.9% share of the network’s revenue. The group is now discussing with Laser the possibility of marketing the North as a single region. It is hoped that this would encourage advertisers to use the total northern area and to simplify some aspects of the handling and transmitting of commercials.

YTTV: 01132 438 283