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
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
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
He added that Flextech was ’strongly positioned to benefit from the
growth and development of the UK pay-TV market and the launch of
Flextech aims to remain a leading supplier of basic TV channels in the
pay-TV market, regardless of the distribution technology involved.