Northern Ireland

UTV makes half-yearly profits £10.9m

Image caption UTV runs its operations from its headquarters in south Belfast.

UTV has made profits of £10.9m in the first half of the year.

The company owns the UTV television channel in Northern Ireland as well as several radio stations in Ireland and Great Britain, including Talksport.

Its accounts said that Irish radio revenues were down by 4% in difficult market conditions but other areas were holding up.

The company, which made £9.5m for the same period last year, has proposed a dividend of 1.5p.

Meanwhile, Irish bookmaker Paddy Power has made an underlying profit before tax of 56.8m euros (£50.2m) for the first half of the year, up 15% from the same period last year.

The company, which offers its services in several international markets, said 81% of its operating profit came from online activities.

Chief executive Patrick Kennedy said business was progressing well in the UK and Australia while it was "well-positioned" in Ireland where conditions remained tough.

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