Media group UTV has reported pre-tax profits of £8.5m for the first half of this year, up from £8m in the same period last year. Operating profits before exceptional items rose by 30% to £12.4m.
Group sales were up 60% to £57m, helped by acquisitions. Radio profits jumped from £1.9m to £6.3m, but a 6% drop in television advertising led to a fall in television profits to £5.6m. New media profits were up slightly at £500,000.
In its Irish radio division, profits rose from £1.9m to £2.4m, as revenue grew from £6.5m to £8m. UTV said radio advertising in its Irish stations, which include Dublin's Q102, LMFM and stations in Cork and Limerick, grew at an underlying rate of 16%. The profits figure includes a £500,000 start-up loss at its new Belfast station U105.
UTV's earnings per share were up 4% to 11.33p and a 5% higher interim dividend of 5p has been declared.
The company said the World Cup had failed to deliver a boost to television advertising revenue and the market remained difficult.
