Pretax profits at Ulster Television fell by 4% last year to £11.9 million sterling, as the group was hit by slower advertising revenues.
UTV saw a 6% fall in ad revenues last year, but said this compared favourably with the average 13.5% decrease across the ITV network.
Operating profits of £1.4 million from UTV's Cork acquisition County Media, and a reduction in losses on its internet business offset weaker performance in its core television operation.
The company also signalled its clear intention to make further acquisitions in the Irish radio market.
It's understood UTV views Dublin and Galway local stations as obvious targets, and has been talking to a number of exisiting licence holders.
The company also announced today that its has purchased 50% of Bocom international, a Dublin-based company broadvasting news and advertising via satellite to screens in high footfall locations.
UTV chairman John McGuckian said whilst the World Cup may act as catalyst to stimulate the market in the second half of the year, he remained cautious on this year's outlook.
