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INVESTORS - Financial Reports
Interim Report 2010
Financial Highlights:
Group revenue up by 9% to £59.2m (2009: £54.4m)
Group operating profit including associates, up by 9% to £12.2m (2009: £11.2m)
Pre-tax profits up by 17% to £9.4m (2009: £8.0m)
£18.4m reduction in net debt over 12 months to £77.3m (2009: £95.7m
Net finance costs down 10% to £2.7m (2009: £3.0m
Diluted adjusted earnings per share up by 16% to 7.36p (2009: 6.32p)
Proposed interim dividend of 1.00p (2009: Nil)
Operational Highlights:
Continuing strong audience delivery across both Radio and Television
GB Radio and Television revenue, strengthened by the World Cup, experienced strong growth in the first six month
The decline in Irish Radio revenue has been arrested, with growth of 3% anticipated in the third quarter
Radio GB benefited from the inclusion of Sport magazine, which was acquired in May 2009, and complements the strong sports-led offering to advertisers
Advertising revenue in talkSPORT in the second half of the year is expected to benefit from the two significant rights packages obtained for the Premier League
Greater operational flexibility has been facilitated by the renegotiation of key banking covenants at better than market interest rates
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