talkSPORT helps drive record profits at UTV

published 20 March 2012

Northern Irish broadcaster, UTV Media, has reported record profits driven by its British radio division and helped in particular its contentious station talkSPORT.

Pre-tax profits came in at £23.3m in 2011, up by 10% on the year before.

Adjusted earnings per share from continuing operations were up by 12% to 18.96p.

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The firm said it would pay a final dividend of 4.5p, resulting in a full year dividend that was up by 50% to 6.00p.

UTV said 2012 had started well despite the prevailing economic uncertainty.

"Overall, we expect revenues in the first four months of 2012 to be in line with budget," the firm said.

"It is expected that the major sporting events during the summer of 2012, the UEFA Euro championships and the London Olympics, will have a positive impact in attracting a large volume of both listeners and viewers to our radio and television output, generating an attractive prospect for advertisers."

UTV said its British radio division revenue was expected to be up by 8% in the first four months of 2012, representing an outperformance of the UK radio market, which it said was likely to be up by about 5% in the same period.

However, it added television revenues would be down by 5% in the first four months of 2012 compared with last year, which it said was broadly in line with the market.

"Despite this positive outlook, the fragility of consumer confidence and the slow economic recovery should not be underestimated as these factors can foster volatility in the advertising markets in which we operate," said chairman Helen Kirkpatrick.