UTV Media profit tumbles

27th Aug 2013 08:42

Northern Irish broadcaster UTV Media posted weaker first half profit but remains confident about the prospects for growth in the second half. The talkSPORT owner booked an interim pre-tax profit of £6.1m from £10.7m in the first half of 2012. Group revenue fell to £55.2m from £61.6m.On a positive note UTV said it saw clear signs of return to revenue growth in all of its business units after a challenging first half."As expected the first half of the year has been challenging for the group. However, we remain confident about the prospects for growth in the second half and as we move into the 2014 World Cup year," said CEO John McCann in a statement.The group said it has a robust balance sheet with significant net debt reduction over the past five years.An interim dividend of 1.75p a share has been recommended, unchanged from last time. CJ