TV3 Group has reported an increase in earnings for 2012 despite a difficult advertising market.
The television group, which includes channels TV3 and 3e, said 2012 earnings before interest and tax were €5.8m, up from €5.5m in 2011.
Revenue fell by 1.8% to €57.6m. Operating profit grew from €0.9m in 2011 to €1.4m in 2012 - this includes spending on TV3's new Sony HD Studio.
Its statement said that severe market weakness from the double-dip recession continued into the first half of this year but that there has been improvement in the second half of the year.
TV3 Group chief executive David McRedmond said that last year and the first half of this year saw "the most difficult trading environment for advertising". He added that he is pleased that the group came through the year with increased earnings and with revenues ahead of market.
He said: "The slow pace of broadcast reform is hampering a recovery in the ad market when the general economy is showing signs of growth. The employees of TV3 have worked exceptionally hard and TV3's investors have provided strong support to ensure the company is well-positioned for recovery."
