Montreal: Riding a three-year turnaround, TVA Group has unveiled 12-month net profits of $25.8 million, or $0.90 per share – its best earnings performance since going public in 1974. The Montreal broadcast/production company recorded profits of $15.7 million in fiscal ’97.

Revenues are also up for the year (ending Aug. 30) to $212.8 million from $196.9 million last year. Broadcasting revenues including sales for all-news specialty channel Le Canal Nouvelles are up 11%, but production revenues were down 16% following the sale of post operations Sonolab and cme in ’97.

Operating earnings reached $55.5 million in fiscal ’98, a $13-million increase over last year. Shareholder return on equity is buoyant at 18.8%.

Among ’98 highlights, tva announced two major partnership agreements as well as a $50-million production fund, which president and ceo Daniel Lamarre says will be used to facilitate a tv movie deal between TVA International and Fox Family Channel.

Lamarre also announced a wide-ranging production, development and merchandising agreement with France’s Groupe m.

On the regulatory front, tva has asked the crtc for a national licence and distribution on basic across the country, and has filed various applications for new French-track specialty channels, including business and travel channels. Hearings are for slated for Dec. 7.

tva (www.tva.ca) is a subsidiary of Groupe Videotron. Its annual shareholders meeting will be held Dec. 14.