“The profit figure of £14,101,000 is the second highest in the 25-year history of the company. Indeed, had it not been for a national industrial dispute which kept the whole of Independent Television off the air for eleven successive weeks, the profit would undoubtedly have exceeded the record of £16,308,000 which was achieved in 1978/79”

[£14,101,000 is £57.5m in today’s money allowing for inflation. £16,308,000 is £66.5m – Ed]

Television

ATV’s current contract for seven-day-a-week television runs until 31st December 1981. By the end of 1980 the Independent Broadcasting Authority will reach its decision on the award of new contracts which will run for eight years. For the period of these contracts the Midlands franchise area will be a dual region comprising the East and West Midlands and ATV has applied for the contract.

A new company, ATV Midlands Limited, has already been set up and a second studio complex is planned for the East Midlands.

T.V. programmes

Initially a proportion of ATV productions will continue to be made at Elstree. Thereafter, Elstree will become available for additional television productions and for special programmes for export.

A new company, Daybreak Television, in which ACC has a minority interest, has made an application for the proposed nationwide breakfast-time television franchise, and Elstree has been suggested as the ideal production centre.

Films

Our subsidiaries now embrace all three aspects of production, distribution and exhibition and the acquisition of Classic Cinemas place more than 140 screens at our disposal. The full-length ‘Muppet Movie’ has broken box office records and its much sought after successor is already in production. Altogether, the film division production schedule has never been stronger.

Theatres

The theatre division enjoyed a year of truly outstanding successes and its profit figure of £1.1 million [£4.5m] stands at an all-time record. The year saw packed houses for Yul Brynner in ‘The King and I’ at the Palladium and ‘Annie’ at the Victoria Palace. The theatrical costumiers, Bermans & Nathans, established new overseas records and their work is to be seen in London’s exciting new attraction – ‘The Palladium Cellars’.

Music

Our main music publishing subsidiary, ATV Music, rose to be the No. 2 company in UK music publishing, and profits and prospects are both excellent. Its subsidiary company, Bruton Music, is now firmly established as a prominent supplier for both television and films.

Records

In common with all other record companies, Pye Records had to face a world-wide recession within the industry. Special attention is now being paid to the important new development of video cassettes and video discs.

Property

The results of Bentray Investments – up from £3.5 million [£14.3m] to £4.2 million [£17.1m] – are impressive and the acquisition of Intereuropean Property Holdings has added a new portfolio, including the important Eros site at Piccadilly Circus.

Telephone answering

For the second year in succession the results of Ansafone have been outstandingly successful and in spite of competition at home and abroad the growth rate has been one of 40%.

Insurance

Two Bermudian companies were purchased by Marbarch Insurance Company and a new company, Bryanston Insurance, has been established. Subsidiaries have been set up in Australia, Hong Kong and Gibraltar, and trading has been profitable throughout.

Jetsave

The Group acquired an 85% stake in Jetsave, a company which is both a pioneer and a leader in the rapidly growing field of trans-Atlantic holiday travel.

The post ATV financial results: 1980 appeared first on THIS IS ATV NETWORK from Transdiffusion.

Lord Grade of Elstree, Chairman and Chief Executive of the international group spanning TV・Theatres・Cinemas・Music Publishing・Films・Records and Tapes・Property・Theatrical Costumiers・Ansafone・Insurance, and Merchandising says…

“I foresee another year of widening opportunity”

For the third time in succession, I am happy to be able to report the highest profit figure in the twenty-four year history of the company.

At £16.3 million [£76.3m in today’s money allowing for inflation – Ed] the profit before tax for 1978/79 is 19% higher than the previous record of £13.7 million [£64.1m] achieved last year and represents an increase of no less than 46% on the result for 1976/77.

Our earnings per “A” ordinary stock unit after taxation were 16.77p [78.48p] (1977/78 16.83p [78.76p]) and the total dividend of 8p [37.44p] per unit recommended by the Board was declared at the Annual General Meeting on 13th September. An interim dividend of 3.1p [14.51p] was paid in March and a final dividend of 4.9p [22.93p] will be paid on 1st October.

The activities of the company are now widely diversified and internationally based, and A.C.C.’s leading position in the field of world entertainment is now acknowledged everywhere. In the light of present performance and prospects I foresee another year of widening opportunity.

Television

ATV Network has enjoyed another distinguished year including winning the British Academy for Film and Television Arts award for the best documentary programme of the year. The Muppets, of which 72 episodes have already been shown in well over 100 countries, is about to enter its fourth series.

There has also been a steady build up of local coverage. In order to strengthen this service a News and Information Centre has been established in Nottingham and a similar centre will be opened in Oxford during the current year.

To meet the increased production required from ATV Centre £1½ million [£7m] will be spent on technical equipment this year in addition to the capital investment of approximately £1 million [£4.7m] made last year and there have also been additions to both staff and premises.

Film Production

Our American distribution has been placed on an entirely new footing by the formation of a new American company, Associated Film Distribution, set up jointly with EMI to handle new productions with “Firepower” as first of the Spring releases.

Films made under the Marble Arch banner have been sold both to the American networks and for financial release.

The Group now embraces one of the most extensive film-making and film distribution organisations in the world, and I regard the prospects of this aspect of our activities as most encouraging.

Thirty major films including “Capricorn One”, “Boys From Brazil”, “Autumn Sonata”, “Voyage of the Damned”, “Movie Movie”, “Escape to Athena” and “Firepower” are now in international distribution, and will continue as a major source of revenue for years to come. Already the full-length film of “The Muppets” promises to be one of the year’s world-beaters. The mammoth spectacular, “Raise the Titanic”, is in production and will be released next summer.

Theatre

Despite the terrible winter weather the Theatres Division has enjoyed its most successful year.

At the Theatre Royal Drury Lane, “A Chorus Line” ran into its third year; “Filumena” has enjoyed more than 700 performances at the Lyric; “Annie”, at the Victoria Palace, is clearly a record-breaker in the making; “Aladdin”, with Danny La Rue as its star, was the acknowledged attraction of the Christmas season and the Palladium production of “The King and I”, starring Yul Brynner and Virginia McKenna is the major event of the London theatrical season.

Music Publishing, Records & Tapes

The ATV Music Group has once again produced record profits. During the year there has been further progress along three principal current lines of policy. These are the signing of new, and development of existing, signed [sic] writers; the building-up of one of the world’s most extensive background music libraries and the acquisition or creation of directly owned subsidiaries overseas, including the establishment of new subsidiaries in Canada and Italy.

Although the record industry suffered a second year of recession, the strength of the company’s catalogue, both in terms of established artists and fresh talent, gives confidence for the future.

Property

Bentray properties are located throughout the whole of the United Kingdom and profits have risen from £2.52 million [£11.8m] to £3.46 million [£16.2m] – an increase of 37%.

Important new developments include the rebuilding of numbers 37, 38 and 39 St. Martin’s Lane to include a restaurant, a public house, shops and approximately 10,000 sq. ft. of office space.

We have also acquired a unique site of 1¼ acres in the prime area adjoining Shaftesbury Avenue and Piccadilly Circus. Plans have been approved for the erection of a lavishly equipped entertainment centre for the showing of the most ambitious stage spectaculars, and the doors will open in the early 1980’s.

Other Interests

Ansafone achieved truly remarkable trading results with profits exceeding £1 million [£4.7m] for the first time – an increase of no less than 154%.

Bermans & Nathans, the theatrical costumiers achieved the distinction of receiving The Queen’s Award for Export.

ATV Licensing, one of out liveliest subsidiaries, increased its profits by 15% and our subsidiaries concerned with insurance and commercial leasing operated profitably and efficiently.

Copies of the full Report and Accounts for the year to 31st March 1979 are available from the Secretary, Associated Communications Corporation Limited, ACC House, 17 Great Cumberland Place, London W1A 1AG.

The post ATV financial results: 1979 appeared first on THIS IS ATV NETWORK from Transdiffusion.

Associated Television Corporation
now, in view of its highly diversified activities, renamed
Associated Communications Corporation

‘I am anticipating new record profits in our current financial year’

Review of the year to 26 March 1978

For the third year in succession the figure of profit has risen most significantly.

The 1977/78 profit before tax of £13,700,000 [£71.1m in today’s money allowing for inflation – Ed] is 22% higher than for the year 1976/77 which was, at the time, the highest in the history of the Company.

Comparison with the preceding year, 1975/76, is even more striking inasmuch as the 1977/78 profit shows a rise of no less than 122%.

Profit after tax attributable to members is £8,050,000 [£41.8m].

Once again the Group Results amply justify the confidence which I expressed in my last Annual Statement, and I have every reason to enjoy that same confidence today. I am happy to be able to say that all divisions in the Corporation are trading profitably.

Earnings and Dividends

For 1977/78 the earnings per “A” stock unit after taxation were 16.83p [87.35p] (1976/77 – 14.68p [76.19p]). Accordingly, the Board is able to recommend a dividend of 6.606p [34.29p] per “A” stock unit, being the maximum permitted by the Treasury.

An interim dividend of 2.772p [14.39p] per unit was paid in March and a final dividend of 3.834p [19.9p] per unit (which reflects the reduction in the standard rate of income tax) was approved at the Annual General Meeting.

Tribute to Staff

My thanks are due to all staff at home and overseas – numbering nearly 5,000 – for the part they have played in building the Corporation to its present size and prominence.

Group Activities

Television

Despite the change of name of the Corporation, the name of ATV Network Ltd., which holds the Midlands franchise granted by the Independent Broadcasting Authority, remains unchanged.

ATV is most favourably placed. “Crossroads”, the ever-popular series of which the 3,000th episode was broadcast in August 1978, is produced in ATV’s Birmingham studios; and ATV’s up-to-the-minute topical programme, “ATV Today”, also a product of the ATV Centre, Birmingham, and already recognised as an outstanding service of Midland television news and information, is being still further strengthened by the setting up of regional news centres in Nottingham and Oxford respectively.

One of the year’s most notable and acclaimed programmes from the Midlands production team was Trevor Nunn’s two-and-a-half-hour musical version of Shakespeare’s “The Comedy of Errors”, specially recorded at the Royal Shakespeare Theatre, Stratford-on-Avon.

It is against this background of 339 hours of programmes produced in the Midlands that the Company’s national contribution produced in ATV’s other studio production centre at Elstree should be reviewed.

I need hardly say that, at the appropriate moment, ATV Network will automatically be applying for the continuation of the 7-day Midlands franchise which it has held since 1968, following on the 5-day Midlands franchise granted at the inception of Independent Television in 1954.

Film Production

ATV Corporation, through its ITC Entertainment subsidiaries, is already one of the world’s major film producers, and over the years I have been at pains to stress the large-scale investment required to finance film production. It is therefore highly gratifying to be able to draw attention to this year’s earnings from the film division, and to remind shareholders that the flow of revenue from this source is just beginning.

In order to streamline the marketing operation of ITC Entertainment films, a new subsidiary – ITC Film Distributors Ltd. – has been formed.

The setting up of a new American subsidiary, Marble Arch Productions Inc., marks yet a further stage in the Corporation’s progress.

Theatre

The Stoll-Moss Theatre Group had a most successful year. “A Chorus Line” continued to break all records at the Theatre Royal Drury Lane. In addition, the past ten months have seen such productions as “Filumena”, “Cause Celebré”, The Old Country”, “Donkey’s Year”, “The Kingfisher”, and “The Rear Column”. Our new international star policy has brought many of the world’s most famous artists to the London Palladium, including Bing Crosby, Sammy David Junior, Julie Andrews, Shirley MacLaine and Liberace, as well as the record-breaking American musical, “Annie”, to the Victoria Palace.

Music Publishing, Records and Tapes

Music publishing has enjoyed an excellent year. There has been a substantial investment in the development of a background music library and considerable effort has been made in the development and encouragement of new writers.

In the UK, ATV Music was placed in the top three music publishers for 1977 by “Music Week”, and our USA company had its most successful year to date.

The Results of Pye Records showed further improvement, with The Brotherhood of Man and The Muppets scoring notable successes.

Other Interests

Property

Bentray Investments has made conspicuous progress and now ranks among the outstanding property-owning companies in the UK. Profits over the past three years have risen by no less than 45% and the valuation of Bentray’s assets, recently completed by outside valuers, shows an increase of over £11 million [£57.1m] in the period.

Theatrical Costumiers

Bermans & Nathans, our theatrical costumiers, has shown steady improvement with a continuing development of its export business.

Telephone Answering

Following the reorganisation at Ansafone, previous losses have been converted into a profit and we expect the current year to produce record results.

Insurance

The Marbarch Insurance Group is trading profitably and we plan considerable developments both at home and overseas.

Licensing

ATV Licensing made excellent progress in all fields and is one of our most rapidly expanding subsidiaries.

Copies of the Report and Accounts are available from The Secretary, Associated Communications Corporation Limited, 17 Great Cumberland Place, London W1A 1AG.

The post ATV financial results: 1978 appeared first on THIS IS ATV NETWORK from Transdiffusion.

the International Group spanning TV, Theatres, Theatrical Costumiers, Films, Music Publishing, Records and Tapes, Property, Insurance, Ansafone and Merchandising

‘Pretax profits are up by 81% to all time record’

Review of the year

The results speak for themselves. The pre-tax profit figure is £11,161,000 [£32.3m in today’s money allowing for inflation – Ed], the highest in the year history of the company, and shows an increase of 81% over 1976.

The improvement in the Group Profit may be attributed in the main to two causes: first, to the resurgence in television advertising revenue and secondly, to the very substantial contribution made this year by the Corporation’s film division.

I can also confirm that all the main divisions within the Group are currently thriving and look well set for the future.

Directors

ATV Corporation

Mr. Jack Gill, C.B.E., already my Deputy Chairman, has, in addition, been appointed Deputy Chief Executive of the Corporation. Mr. Gill’s new designation thus gives public recognition to the part which he has played in building up ATV’s prosperity.

Mr. Norman Collins, who has held the position of Deputy Chairman from the inception of the Company, now gives up that post, but I am most happy to say he has agreed to remain a member of the Board.

I have been most happy, also, to appoint Mr. Louis Benjamin my other Deputy Chairman.

ATV Network

It is a condition of the franchise granted by the Independent Broadcasting Authority that 70 should be the maximum age for Directors of the licensed Companies.

Accordingly, while remaining Chairman and Chief Executive of Associated Television Corporation – the Group which embraces all the subsidiary activities – I shall be relinquishing my Chairmanship of the ATV Network Division of the Group on 1st October, 1977. I am delighted to say, however, that the Board of ATV Network has, with the full approval of the Authority, unanimously elected me to the post of President, and I am also fortunate in having Mr. Jack Gill, already my Deputy Chairman at ATV Network, ready to succeed me as Network Chairman.

Under the same age-rule of the Independent Broadcasting Authority, Mr. Norman Collins, a founder-member of the Company, will be retiring from the Network Board.

Television

As a result of improved transmitter coverage, ATV Network now serves an area extending from Stoke on Trent in the north to Oxford in the south, and from Hereford in the west to Peterborough in the east.

Due to the upturn in television advertising revenue, the profit of ATV Network, before tax, was £4,281,000 [£23.9m] against £1,945,000 [£10.9m] for 1976.

The financial revival of ATV Network should be seen against the background of the results for the year 1974/75 when the profit before tax had dropped to £1,677,000 [£9.4m].

The urgent and necessary economies which were introduced were not, however, at any time allowed to impinge on direct expenditure upon programmes.

In the result, the high standards of the service were fully maintained, and the year saw the presentation of such notable programmes as the six-part “Moses The Lawgiver”, and the irresistible, 24-episode series “The Muppet Show” – 1977 winner of the Golden Rose of Montreux Award.

The Annan Report

The long-awaited Annan Report on the future of broadcasting has now been published and I must thank Lord Annan for his welcome acceptance of the basic principles of Independent Television.

I must, nevertheless, admit to being disappointed that the Committee did not see fit to recommend that the available – and at the moment, entirely unutilised – fourth Channel should be allocated to the IBA.

Film Production

In my last two annual statements, I have been careful to draw attention to the magnitude of borrowings necessary to finance large scale film production and the inevitable time-lag between outlay and reward.

That reward, in very considerable measure, is now beginning to accrue with a contribution of £2,908,000 [£16.2m] this year.

Zeffirelli’s majestic production of “Jesus of Nazareth” was first shown in this country on Palm Sunday, 3 April 1977. It achieved immediate success both at home and abroad. In Britain, the audiences amounted to 21 million viewers; in the USA to over 91 million and in Italy 84% of the viewing public saw the film.

I have no hesitation in saying that this film, representing ATV’s largest single film-production investment, will prove an asset of inestimable worth to the company and provide a valuable annuity over the years to come.

Among the Film Division’s other successful releases, “The Return of the Pink Panther” has proved particularly outstanding. Further investment in film production is currently being undertaken in the light of up-to-date practical experience of the international market.

The overseas interests of ATV have during the past decade been steadily expanding. In consequence, the Group is now a large-scale earner of foreign currency.

Theatres

The Stoll-Moss Theatre Group enjoyed a most satisfactory year. Included amongst its outstanding achievements are the record-breaking “A Chorus Line” at the Theatre Royal, Drury Lane, and the musical hit, “Ipi Tombi”, at Her Majesty’s Theatre.

Moreover, the Group’s Shaftesbury Avenue theatres – Queens, Globe, Lyric and Apollo – all showed to best advantage, with long-running performances by such of our leading actors as Sir Alec Guinness and Sir John Mills, and with the work of many award-winning dramatists.

The twelve months at the London Palladium proved equally stimulating and successful. The new international star policy launched with Frank Sinatra in 1975, brought before the public such artists as Sammy Davis Jnr., Julie Andrews, Bing Crosby and Shirley Maclaine on her triumphant return visit; and the box office demand became overwhelming.

Music Publishing, Records and Tapes

Music publishing produced record profits with an increase of 21% against the previous year and there is every indication that the current year should again make a major contribution to the Group’s finances.

The decision has been taken to start new companies in the major territories outside USA and Switzerland, where we already have our own music publishing subsidiaries. We have therefore acquired a controlling interest in Allo Music in France and investigations are proceeding with the object of establishing companies in Germany and Italy.

The results of the Pye Records Group show improvement over the previous year despite a non-recurrent setback in the company’s trading in the United States.

Among the Pye artists who won international acclaim were the Brotherhood of Man with their 1976 Eurovision Song Contest winner “Save Your Kisses For Me”, and Max Bygraves and Lena Martell both earned top places in the overseas Charts.

Other Activities

It is a remarkable achievement that Bentray Investments should have increased its profits by nearly 20% in a year which was a notably difficult one for property companies.

A complete re-organisation has been undertaken at Ansafone and the new range of equipment being offered shows every sign of being able to meet the steadily growing demand.

Bermans & Nathans, our theatrical costumiers, are now trading profitably.

The Marbarch Insurance group is steadily expanding its business overseas and the whole outlook is most promising.

ATV Licensing has most enterprisingly expanded its activities. In addition to the wide range of “Space 1999”, a forthcoming range based on “The Muppet Show” and our own long established “Rupert Bear” should ensure another good year.

Tribute to Staff

Thanks are due to all directors and staff of the Group’s companies at home and abroad for their staunch support throughout the year. The growth of ATV is something of which we can all feel justly proud.

Group results at a glance

Year to 27 March 1977

Turnover rose from £69.2 million [£386m] to £89.3 million [£498.7m] an increase of 29%. After paying an increased television levy of £6.03 million [£33.7m] against £2.73 million [£15.3m] in 1976, the profit before taxation was £11,161,000 [£62.3m] (1976 – £6,151,000 [£34.4m]). Taxation accounted £4.75 million [£26.5m] (£3.17 million [£17.7m]), leaving a profit after tax of £6.41 million [£35.8m] (1976 – £2.98 million [£16.6m]). Earnings per ‘A’ stock unit were 15.32p [85.49p], an increase of 118.5% over for last year.

An interim dividend of 2.275p [12.69p] per ‘A’ stock unit, together with a final dividend of 3.099p [17.29p] to be paid on 3 October, makes a total of 5.374p [29.99p] per ‘A’ stock unit – the maximum permitted.

After paying these dividends, the profit retained in the business amounted to £3.82 million [£21.3m].

The post ATV financial results: 1977 appeared first on THIS IS ATV NETWORK from Transdiffusion.

“Thanks to the policy of diversification your Company is now very soundly based … all monies expended now are an investment for the future”

Results and Dividend

The Group profit of £5,746,000 [£42.4m in today’s money allowing for inflation – Ed] before taxation, as against £7,268,000 [£53.7m] for the year 1973/74, reflects the reduced profitability of the operation of the television franchise and the increase in finance charges.

It speaks highly for the buoyancy of the other subsidiaries that in these circumstances the figure of Group profit should not have been more seriously impaired. Thanks to the policy of diversification the Company is now very soundly based.

Earnings per ‘A’ Stock Unit were 6.51p [40.04p] (1973/74 – 8.64p [63.76p]). The final dividend of 2.05p [15.13p] with the interim of 1.85p [13.65p] already paid, makes a total of 3.9p [28.72p] per ‘A’ Ordinary Stock Unit for the year.

Television

The reduction in the television profits from £3.07 million [£22.7m] to £1.68 million [£12.4m], after a payment of £2.85 million [£21m] as Exchequer Levy, is closely in line with the forecast made last year. Exchequer Levy and Corporation tax together consumed no less than 83 per cent of the profits of the Network.

Film Production

Benefit from investment in film production is never short-term, and profits should not be looked for before the second year. However, with careful forward planning of distribution, all monies expended now are an investment for the future.

I become more and more convinced that personal visits overseas are essential if the needs of the international film and television markets are to be properly understood. During the past year I made a total of 26 such trips.

Theatres

Stoll Moss has enjoyed a good year. “Billy” at Drury Lane has proved the most successful musical since “My Fair Lady”, and “Hans Andersen” at the London Palladium has established a new record as a family musical that has run from Christmas into the summer months and beyond. The results of Bermans & Nathans, the theatrical costumiers, though disappointing show improvement over last year.

Records, Tapes and Music Publishing

The success of Pye Records and Precision Tapes has proved outstanding in every way, and with profits now exceeding £2 million [£14.8m], these companies represent a major force within the musical industry.

ATV Music Publishing has again shown itself a source of major strength and is now one of the most important operations of its kind in the world today.

Ansafone, acquired in 1973 has continued to show steady growth and an entirely new range of apparatus has been developed for Continental and American markets.

Property

The results of Bentray Investments, at over £1.7 million [£12.6m], are most satisfactory. The company is responsible for 156 properties and in the major development — the ATV Centre, Birmingham — 18 complete floors of the Tower have already been let.

Copies of the full Report and Accounts are available from the Secretary, Associated Television Corporation Limited, ATV House, 17 Cumberland Place, London, W1A 1AG.

ATV Corporation interests, in addition to the 7 day-a-week television franchise for the Midlands area, include film making, theatres, record, tape and music publishing companies, the manufacture and supply of telephone answering equipment, theatrical costumes, and merchandising and property companies.

ASSOCIATED TELEVISION CORPORATION LIMITED

The post ATV financial results: 1975 appeared first on THIS IS ATV NETWORK from Transdiffusion.

“ATV Network remains the keystone of the Company’s operations. Nevertheless it is my firm intention that the corporation should comprise a wide variety of operations all with strong potential”

Results and Dividend

I am pleased to be able to report a Group Profit of £7,268,000 [£65.5m in today’s money allowing for inflation – Ed] before taxation which is marginally above the record profit made last year. The earnings per ‘A’ Ordinary Unit after taxation were 8.64p [77.85p] (1972/73, 10.42p [93.88p]). Your Board has decided to recommend an increase of the dividend to 5.125705p [46.18p] per ‘A’ Stock unit. This is equivalent to an increase of 5 per cent in the rate of the dividend (the maximum permitted under Phase III of the Government’s Counter-Inflation Legislation) making a total for the year of 30.067 per cent.

Television

In the year under review the prosperity of your Company clearly reflected the economic state of the nation. It was thus a year of sharply contrasting fortune. The first nine months proved highly profitable. Indeed, if the results for that period could have been maintained, the figure of profit would have been conspicuously the highest in the Company’s history. The final quarter, however, spanned the disastrous weeks of the energy crisis. ATV Network, in particular, was gravely hit.

Here it should be borne in mind that, in the past, the operation of the television franchise has been responsible for approximately half the profits of the Corporation. It therefore speaks highly for the healthy state of the other diversified activities that the figure for Group profit should remain virtually unaffected.

I am happy, moreover, to be able to say that the severe setback suffered by Commercial Television in the winter of 1973 and the early spring of 1974 proved to be only temporary. Confidence in the medium as an essential element in efficient salesmanship has been re-affirmed by the manufacturers, and the advertising revenue of ATV Network already shows full recovery.

Your Board welcomes the statement by the Authority that, subject to appraisal during 1974 of the performance of the Companies, no change in the present allocation of franchises will be made before 1979.

Diversification

Your Board has vigorously pursued its policy of expansion into other fields, and future possible acquisitions are constantly being investigated. The acquisition last year of 80 per cent of Ansafone Holdings Ltd. has abundantly justified such a policy. Elsewhere, there has been steady growth in the principal divisions already within the Group.

Film Production

Your film producing and distributing subsidiaries ITC–Incorporated Television Company Ltd., Independent Television Corporation (U.S.A.), and ITC of Canada — have all been exceptionally active.

Theatres

Despite the dislocation caused by the power cuts, petrol shortages and impaired train services during the winter months of 1973/74, your subsidiary Stoll Theatres Corporation Ltd. enjoyed a reasonably satisfactory year.

Records, Tapes and Music Publishing

Your record company, Pye Records, and your cassette and cartridge tape company, Precision Tapes, have both experienced exceptional success. Together with ATVs music publishing operations, they have returned a profit 83 per cent higher than last year’s at a figure of £2,502,000 [£22.6m].

Property

The results of your property subsidiary, Bentray Investments, have been most satisfactory, and your major development, ATV Centre, Birmingham, is now a valuable contribution to Group finances.

The post ATV financial results: 1974 appeared first on THIS IS ATV NETWORK from Transdiffusion.

Record pretax profit in an encouraging year

reported by Associated Television Corporation Limited

• Turnover up from £38.0 million [£392.8m in today’s money allowing for inflation – Ed] to £45.5 million [£470.3m].
• Group profit before tax £7.2 million [£74.4m] – an increase of 16%.
• Dividend 7.27p [75.17p] per share against 6.92p [71.55p] – the maximum permitted.
• Increase in broadcasting hours resulted in advertising revenue up from £16.2 million [£167.4m] to £20.6 million [£212.9m].
• Government proposal to extend IBA’s Charter welcomed. Second channel awaited.
• Property revaluation shows surplus of over £8.7 million [£89.9m].
• Eighty per cent interest acquired in Ansafone – future potential immense.

The post ATV financial results: 1973 appeared first on THIS IS ATV NETWORK from Transdiffusion.