Granada Group Plc’s shares eventually rose after its solid results caused few suprises in the markets. The television, rental, computer and leisure group saw pre-tax profits jump 50% to ú154.5m from turnover up 19% at ú1,119.4m. The rental and computer services division increased its profits, which was against the market trend, according to the company. It now represents 34% of group pre-tax profits and 32% of turnover, as the full impact of Granada’s acquisition of London Weekend Television takes effect, and the television division is now catching up fast in turnover terms. Computer services and rental pre-tax profits were up 3% at ú58.6m from turnover that rose 5% to ú355.7m. However, the Bracknell, Berkshire-based Granada Computer Services (UK) Ltd arm fa red better than its rental sibling, with particularly good performances from the UK and the disaster recovery businesses. The results from Europe were mixed. Strong performances from Granada Computer Services SA in Spain and the Italian are were offset by less successful operations in France. The company is one of the top two or three third party maintenance providers in Europe, but still does not look a convincing fit with any of Granada’s other businesses, although there have been no indication that the Manchester company is seeking to sell it. Elsewhere, Granada’s television revenues rose 87% to ú295.7m after adding in London Weekend, with profits up 106.6% to ú71.9m. The leisure and services division saw pre-tax profits up 26% to ú42.6m from turnover up 5% at ú467.5m. The interim rises 16% to ú3.85 pence.
