Flextech expansion raises turnover and brings pounds 1.9m profit

By JOHN TYLEE, campaignlive.co.uk, Friday, 27 March 1998 12:00AM

Flextech, the cable and satellite TV company, has turned in a profit for 1997 after launching a raft of new channels and taking more than a quarter of all basic-channel viewing in multichannel homes, according to the company’s latest annual results.

Flextech, the cable and satellite TV company, has turned in a

profit for 1997 after launching a raft of new channels and taking more

than a quarter of all basic-channel viewing in multichannel homes,

according to the company’s latest annual results.



The company, which controls channels such as Bravo and Discovery and has

a partnership with BBC Worldwide, UKTV, had a turnover of more than

pounds 100 million for the first time in its history, up by 54 per cent

on 1996.



Profits for the group were pounds 1.9 million, compared with a loss of

pounds 15.6 million the previous year, before an exceptional charge of

pounds 7 million.



Ad revenue was up from pounds 6.2 million to pounds 15.4 million, while

subscription revenue rose from pounds 30.9 million to pounds 49.5

million.



Roger Luard, the chief executive of Flextech, said that the results were

generated by strong trading in the comp-any’s core business of basic

channel provision.



He added that Flextech was ’strongly positioned to benefit from the

growth and development of the UK pay-TV market and the launch of

digital’.



Flextech aims to remain a leading supplier of basic TV channels in the

pay-TV market, regardless of the distribution technology involved.



This article was first published on campaignlive.co.uk

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