LONDON (Thomson Financial) - Media investor Motive Television Plc. posted
a much wider loss before tax during the first half, despite an 86 percent rise in turnover as it continued to invest in its bank of programmes and development projects.
'We expect these losses to create long-term value for the group when programmes arising from this investment in development come to fruition,' said chairman Mick Pilsworth.
The company said its core corporate costs have been contained and all of its operating companies have made good progress during the period.
During the six months to end-June, the group's loss before tax widened to 507,188 pounds from 182,452 a year ago. Turnover for the period was 2.7 million pounds. Gross profit was 37 percent up at about 491,000 pounds.
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