World Cup boosts UTV Media's profits

TalkSport's coverage of the World Cup helped its owner UTV Media to report a 9% year-on-year increase in its operating profit for the first half of 2010.

Announced yesterday, UTV's results statement revealed that TalkSport increased its revenue by 23% year-on-year to £12.6m in the six months to June 30. The news and sport station's overall operating profit grew 48% to £3.9m.

UTV Media's overall group revenue was up 9% year-on-year to £59.2m. Group operating profit was up 9% to £12.2m and pre-tax profit increased 17% to £9.4m.

In the third quarter of this year, UTV expects TalkSport's ad revenue to be up 15% year-on-year, especially as the station has doubled its allocation of Premier League games for the 2010/11 season.

The company also claimed that the decline in its Irish radio revenue has now been "arrested", meaning that growth of 3% is anticipated in Q3.

"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," said UTV Media group chief executive John McCann.