UBC Media revenue up 9% to £1.9m

LONDON - UBC Media Group, the company behind a range of businesses serving the radio sector, reported an increase in revenues to £1.9m in the six months to the end of September, up 9% year on year.

Cole: optimistic about second half of the year
Cole: optimistic about second half of the year

The supplier of audio content and broadcast data software achieved gross profit of £556,000 after group overheads dropped 17% between April and September, to £830,000.

According to a statement to the London Stock Exchange today (16 November), UBC Media has paid a dividend of 0.102p per share to its shareholders, amounting to a total dividend of £200,000. UBC said it expected to pay a total dividend for the financial year to 31 March 2010 of £500,000.

The company agreed an earn-out arrangement with Global Traffic Network, following the sale of UBC's traffic and travel news division to GTN in March this year, and received a payment of £1.95p during the period.

In July, UBC purchased the sponsorship division of the assets it sold to GTN, which trades as IntaMedia, and in August it bought the branded content company Radio Lynx from Music Marketing Services.

Both IntaMedia and Radio Lynx make content on behalf of advertisers and chief executive Simon Cole's report said this was an area of great growth potential. He was hopeful  the two companies would make "substantial contributions to the second half of the year".

Cole said the payment of UBC's maiden dividend as a public company signalled a "significant shift in focus for the group" and UBC was using its cash-rich balance sheet to "build a strong service proposition with content at its centre" and was optimistic about the second half of the financial year.

 

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