Irish radio business helping to drive UTV profits
Wednesday, 15 March 2006

UTV's annual results, published this week, show that the media group's investment in Irish radio properties is paying off, as operating profits from that sector rose to £3.84m in 2005, from £2.46m the year before. Although this partially reflected UTV's acquisition of LMFM during the year, finance director Jim Downey also pointed out that UTV's radio presence here is now second only to RTE Radio One in terms of listenership. He also indicated that UTV remains open to the possibility of further acquisitions in line with its ongoing strategy. Advertising revenues from Irish radio operations are expected to grow by 9% in the first quarter of the current year. Total group profits came to £20.8m before tax and exceptional items, up 19% on 2004, despite a flat performance in its TV businesses. UTV owns Q102 in Dublin, 96FM in Cork, 103FM in Cork, Live 95FM in Limerick, LMFM, and U105.

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