ULSTER Television, which has confirmed it is withdrawing from the TV3 consortium, has reported solid first half results, with pre-tax profits up 27 per cent to £4.67 million sterling.

The results were welcomed by the markets where UTV shares rose following the publication of the figures.

However, they are distorted by an exceptional gain of £838,000 on the disposal of investments in British listed companies. Interest income was marginally higher at £880,000.

At the operating level operating profits increased from £2.78 million to £2.98 million with advertising income, which accounts for 95 per cent of the £17 million turnover, up 2.6 per cent on the first half of 1995. Overall, ITV companies increased advertising income by 4 per cent.

Chairman, Mr John McGuckian said that this apparent loss of market share was due to circumstances specific to UTV's own market.

He has warned, however, that 1996 is proving to be a difficult year for all TV companies. Next year should to show an improvement, said Mr McGuckian.