Ulster TV Sees 2004 Profits Soar

Ulster Television has reported soaring profits for 2004 in its annual report and accounts, with group turnover up by 18% year on year to £63.5 million, while pre-tax profit rose by a staggering 46% to £13.9 million in the same period.

The company’s television division also saw successes, with its operating profit rising by 29% year on year to £15.2 million. Elsewhere, the company’s radio and new media operations remained unchanged, with profit sticking at £2.5 million and £0.9 million respectively despite increases in advertising and revenue.

The broadcaster’s television advertising revenue played a major part in last years success, increasing by 16% year on year, compared with a 2.6% increase over the same period by ITV1. The rise marks UTV’s fifth successive year of outperformance, with the company notching up a record 2.69% share of ITV1’s advertising market.

In addition, the company reports that the successful relaunch of Dublin-based radio station, Q102, in March 2004 has resulted in a 60% increase in its market share to 8%.

The company is also optimistic about the coming year, with TV advertising revenues expected to be 5% up in the first quarter of 2005, while radio advertising revenues are expected to rise by 20% in the same period.

Commenting on the results, Mr John B McGuckian, chairman of UTV said: “I am pleased to report a year of outstanding achievement for UTV in all three areas of our business. Our unique market offering ensures the continuation of impressive growth in TV, radio and new media. In particular our integrated sales strategy for radio is paying dividends across Ireland and is well positioned to grow further.”

He added: “Television operating profit increased by 29% to £15.2 million and we expect 2005 advertising revenue to increase by 5% in the first quarter. We have also accepted the Digital Replacement Licence offered by Ofcom which extends the term of our television broadcasting licence to 2014. Through a combination of continued growth in our broadband customer base and following the successful launch of our telephony product UTV Talk in August, turnover in our New Media division grew by 44% to £5.4m.”

UTV: 02890 328122 www.utv.co.uk

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