UTV buck ITV trend as profits increase

Northern Ireland ITV broadcaster UTV have announced a slightly increased profit of £7m for the period ending June 30 2002, thanks in part to a 0.3% television advertising increase to £19.1m.
Commenting on the figures, Managing Director John McCann said: "We have had good operational performance and further strategic development in what were very testing markets.
"Our TV revenues continued to outperform the ITV network and television and our increase compares favourably to an estimated downturn of 5.6% in total ITV advertising."
Despite the relatively healthy bottom line, however, McCann was cautious over the future: "In the third quarter of this year we would expect to increase our advertising revenue by 15%, with growth being achieved in each of our geographic markets. While it would be inappropriate to predict a definite return to growth, it would be equally inappropriate to ignore these positive signals. Whether or not these represent the first green shoots of recovery remains to be seen and we remain cautious until a period of sustained growth has been demonstrated."
(GB)