LONDON -- Northern Irish broadcaster Ulster Television blamed the slow U.K. TV advertising market for a profit dip from £15.7 million ($30.4 million) to $25.4 million for the year ended Dec. 31.
But a strong perf from radio -- Ulster owns the Talksport station plus local services -- helped revenue increase by 22% to $220.3 million.
Despite the slow TV ad market, UTV said its advertising revenue outperformed the rest of ITV. Its TV ad sales fell 9% vs. 12% for the ITV network as a whole.
"Our strategy of developing media interests outside our TV business through the acquisition of radio assets in (Great Britain) and Ireland has resulted in our radio divisions' contributing the larger proportion of the group's revenue and operating profit for the first time," said group CEO John McCann.
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