TalkSport profit boosted by World Cup 02/09/2010 |
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The World Cup helped boost operating profit at radio station TalkSport by almost 50 per cent.
The tournament increased revenue at the UTV-owned news and sport station by 23 per cent to £12.6m in the first half of this year. TalkSport's overall operating profit increased 48 per cent to £3.9m, according to its half-yearly interim report published this week.
Overall, UTV Media's group revenue was up 9 per cent to £59.2m. Group operating profit was up 9 per cent to £12.2m, with pre-tax profits up 17 per cent to £9.4m.
UTV expects TalkSport's advertising revenue to increase by 15 per cent in the third quarter of 2010 after it doubled the number of its live Premier League games compared with last season.
Chairman John McGuckian said: “The fragility of economic recovery warrants caution in any forward-looking statements. Nevertheless, the improvement in trading this year is evident and this is continuing into the third quarter of 2010.
"In last year's interim results, I wrote that the UTV group was 'well positioned for the upturn when this current unpredictable period comes to an end'.
"While it could not yet be said that the unpredictable period is at an end, it is fair to say that much of the difficult work to prepare the group for the recession is bearing fruit.
"As ever, a sustained recovery in the wider economy is the pre-requisite to ensuring that the group can take full advantage of its strong position in the markets in which it operates."
UTV Media's group chief executive John McCann added: "The first six months of 2010 saw a better trading performance due to the improving economic environment and the stimulus of the World Cup, and this improvement in trading appears to be continuing in the third quarter."
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