UTV chairman John McGuckian says prospects for improved profits at its recent acquisition County Media are good. UTV acquired 60% of the Cork radio business earlier this year.
Shareholders at today's AGM were told that County Media made an operating profit of IR£2.3m on turnover of £6.4m last year. Mr McGuckian said strong growth in radio advertising revenue had been maintained this year.
On the recent downturn in British television advertising, he said UTV was not immune and expected a decrease of around 6% in advertising revenue in its first half, though this was less than the expected ITV average of 15%.
