Broadcast News

Bookmark and Share
28/05/2002

Carlton report six-month results after 'a very difficult period'

Carlton Communications' interim results for the six months ending March 31 have revealed a reduced operating profit arising mainly out of the failed pay-TV digital platform – ITV Digital – and a 13% slump in advertising sales.
Group turnover was down to £503 million from £539 million, however, cost savings of £24 million were achieved as was a reduction in net interest charges of £8 million.
In a joint statement, Chief Executive Officer Gerry Murphy and Chairman Michael Green described Carlton's pre-tax investment of around £600 million in ITV Digital as "unsuccessful". They admitted that "it has been a very difficult period for Carlton", however, they stressed that the company "should continue to explore opportunities for growth in multi-channel television".
The statement read: "We are now focused on creating value for our shareholders through strengthening ITV, growing our content and advertising sales businesses in the UK and internationally, and creating opportunities for growth in the changing landscape of the UK media sector."
Despite the failure and massive write down of ITV Digital, Carlton said that it was "confident that the UK will continue to pioneer the development of digital television". To that end, the company believes that digital terrestrial television is key to eventual analogue switch-over and it is working closely with other free-to-air broadcasters to secure a future as a viable distribution platform for current and future ITV channels.
The news that like-for-like advertising sales slipped 13% will not overly concern Carlton who announced the signing – along with joint ITV-owner Granada – of the UK's biggest-ever airtime television advertising deal on Monday. The deal will ensure a constant flow of advertising revenue from the £320 million deal with Unilever over the next four years.
The company reassured shareholders over the prospects for advertising, adding: "There are early signs of a recovery in demand for advertising in the second half."
In programming, Carlton have agreed an additional £25 million investment in the network schedule in the current calendar year.
Carlton's cinema advertising business in the UK performed well and the company extended its US cinema advertising partnership with Thomson multimedia with a European acquisition, which will accelerate our expansion in this growing market.
The statement concluded: "The draft Communications Bill, published this month, paves the way for further ITV consolidation and could enable new opportunities for working with non-European partners in the UK.
"We welcome the deregulatory thrust of the proposed legislation, and believe that the liberalisation of ownership rules will benefit viewers, advertisers and shareholders."
Carlton Communications, www.carltonplc.co.uk
(GMcG)
Solidmate Ltd Memory Card Hire London

Top Related Stories
Click here for the latest broadcast news stories.

05/05/2017
Cartesian Becomes First Consultancy To Join Digital TV Group
Telecommunications consultancy Cartesian has become the first member from the consultancy sector to join the Digital TV Group (DTG). The company will
29/09/2017
PlayBox Technology Neo Delivers In UK Football
Two of Britain's largest Premier League football clubs have upgraded their broadcast channel branding and playout systems to the latest-generation Air
02/08/2017
Hambro Perks Appoints New CEO Of UK Media Division
London-based company builder, Hambro Perks, has appointed Kate Burns as Chief Executive Officer (CEO) of the company's new UK media division. In her n
02/08/2017
NEP UK Selects Riedel's MediorNet MicroN Tech
NEP UK has adopted Riedel's MediorNet MicroN technology for use in a broad range of high-profile live productions. With 26 MediorNet MicroN high-densi
25/04/2017
Canford Appointed UK Distributor For TC Electronic
Canford has announced that it has been appointed the exclusive UK distributor of TC Electronic current product range of precision audio metering, moni
12/04/2017
NEP UK Purchases MPA1 Solo SDI Units
NEP UK has purchased a number of TSL Product's new MPA1 Solo SDI monitoring product. NEP will install a total of 14 units in a new OB truck covering s
11/04/2017
Source Distribution Takes UK Distribution Of Aphex Systems
Source Distribution has taken the exclusive UK distribution of Aphex Systems. Aphex make professional audio processors, preamplifiers and dynamics con
07/04/2017
The Future Of UK Studio Build
Amadeus Acoustic Solutions' BOXY modular studio system enjoyed a highly successful debut at BVE 2017 with visitors queuing to sample the room's enviro
30/03/2017
Proposals Sought For HPA Tech Retreat UK
Proposals are being sought for the main program and breakfast roundtables at the 2017 HPA Tech Retreat UK in Oxfordshire. The session grid is filling
04/09/2017
Polar Graphics Named UK & European Distributor
Polar Graphics has announced that it has become the UK and European distributor for FocalPoint Server. With the partnership, Polar Graphics will provi
23/08/2017
Canon UK Announces Two Senior Appointments
Canon UK has announced a double appointment to its sales team, with Ian Barnard joining as its new Sales Director and Matthew Yates as its Broadcast &
23/08/2017
Tackling The Format Explosion At The Second Annual HPA Tech Retreat UK
The HPA Tech Retreat UK is fast becoming a must-attend event for the cognoscenti of professional content production in Europe, as the US iteration alr
15/08/2017
Studer Appoints HHB As UK Distributor
HHB Communications has been appointed as a UK distributor of Studer digital audio mixing consoles and media routing systems. With a global reputation
18/07/2017
Panasonic Projects Big Things Following UK Rental Event
Panasonic has hosted an event for the UK rental and staging industry, where it showcased the new PT-RZ21K 3-chip DLP projector for the first time in t
14/07/2017
Riedel Communications Appoint New UK Rental Engineer
Riedel Communications has announced the appointment of Daniel Channon as rental engineer. Based in Riedel's U.K. office, Channon will be responsible f