UTV Report and Accounts 2008
Financial Highlights:
Group turnover up 6% to £120.3m (2007: £113.8m)
Pre-tax profits before exceptional items of £20.3m (2007: £20.8m)
Group operating profit, including associates, is £28.1m (2007: £28.1m)
Radio operating profit, including income from associates, up 12% to £18.5m (2007: £16.6m) accounting for 66% of total
Television operating profits down 24% to £7.7m (2007: £10.1m)
New Media operating profits up by 44% to £2.0m (2007: £1.4m)
Anticipated cost savings of £5m in 2009
Exceptional costs before tax of £4.5m (2007: £1.0m)
Final dividend of 2.00p (2007: 8.30p) resulting in a full year dividend of 5.30p (2007: 13.50p)
Raised a net £47.5m in a 2 for 3 rights issue
New banking facilities totalling £95m and €50m in place through to July 2013
Operational Highlights:
Tibus acquired on 12 February 2008 for £4.05m (including costs) and FM104 on 10 April 2008 for £43.6m (including costs)
Radio revenue up by 13% to £70.8m (2007: £62.8m)
GB Radio revenue marginally down to £45.9m (2007: £46.2m) but with talkSPORT revenue up by 6% to £22.7m (2007: £21.4m)
Irish radio revenue up by 50% to £24.9m (2007: £16.6m) with like for like revenue growing by 1%
Television advertising revenue reduced by 7% to £35.4m (2007: £38.2m)
New media revenue up by 18% to £11.5m (2007: £9.8m)
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