“Recession continues to hit industry advertising revenues” says Sir Derek Palmer, chairman of Yorkshire-Tyne Tees Television after the announcement of the channel’s profits yesterday. Although an increase of 23% from £13.1m to £16.1m was revealed it is likely that newly merged YTTTV will see yet another spate of redundancies this year following the loss of 320 jobs in 1992.
Turnover increased by 9.8% for the year ended 30 September and earnings per share went up from 22.9p to 27.1p. Directors have recommended a final dividend of 8.7p per share.
YTTTV: 0532 438283
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