UK commercial broadcaster Channel 5 helped owner Northern & Shell report a 40% increase in revenues.
This is the first full year contribution from the broadcaster since Richard Desmond’s Northern & Shell purchased the company in July 2010. Channel 5’s revenues increase by 23% to £353 million (€440 million) over the year, despite adverse advertising conditions in the UK. The broadcaster recorded an operating profit of £26.2 million in 2011 compared to a £48 million loss last year.
Northern & Shell finance director Robert Sanderson said: “Despite the difficult macroeconomic climate, the group has achieved significant growth over the last two years, both in its core media activities and out into other business areas. We remain intent on continuing to explore further opportunities.”