Broadcaster UTV has reported a pre-tax profit of £10.9m for the first six months of the year, a 15% increase on the profit achieved during the first half of 2010. Revenues for the period amounted to £59.1m.
While the operating profits of its British and Irish radio stations lowered slightly, the group’s TV division performed better than expected with operating profits more than doubling to £3.1m during the period.
The company, which is understood to be considering a proposal to buy Absolute Radio in the UK, said that it had also managed to reduce net debt by £14.2m to just £63.1m.”
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