Olympics knock TalkSport owner

UTV, the owner of sports radio station TalkSport and the Northern Irish ITV franchise, has reported a fall in profits owing to the effect of the Olympics.

The company characterised 2012 as “a game of two halves”, saying that strong advertising revenues from the Euro 2012 football tournament did not make up for a loss of listeners and viewers when the BBC broadcast the Olympics in August.

This meant that revenues dipped to £120.1m and pre-tax profits fell from £23.3m to £21m, with the drop mainly in TV revenues.