Local radio gives UTV profits boost
UTV Media has reported a sharp rise in profits from its UK-based local radio stations.
The Belfast-based media group owns 15 local stations including Juice FM in Liverpool, Radio Wave in Blackpool, Bolton and Bury’s Tower FM, Wish FM in Wigan and St Helens and Warrington’s Wire FM.
In interim figures the group said revenue grew by 3% across these stations to £10.7m and operating profits jumped by 18% to £6.9m.
UTV, which also owns TalkSport, runs the local radio network from offices in Warrington.
Group chief executive John McCann said: “The group has posted a resilient performance for the first half of 2012, growing both revenues and pre-tax profits in a choppy market.”
Group pre-tax profits rose 3% to £11.2m on sales of £61.6m, up 4%.
