UTV plc Revenue Up By Just 2%

UTV Media plc has seen a modest increase in overall revenue compared to the same period last year - but is hoping for a bumper Christmas to boost losses in some markets.
The Belfast-based broadcaster's Interim Management Statement , published today, covers the period from the beginning of the Group's current financial year, 1 January 2011, to the date of this announcement and incorporates the Group's 10-month trading period ended 31 October.
During those months the Group experienced an overall revenue increase on continuing operations of 2% compared to last year, it reported.
The UTV statement said: "In the last two months of the year, the decline in Television advertising revenue is likely to be mitigated by an increase in advertising revenue from Radio GB.
"In our Irish radio division, the decline in advertising has flattened in November and December while our New Media division is continuing to experience some growth."
Overall, radio stations in Great Britain accounted for most of the group's gains with 5% growth, whereas in the Irish Republic the market declined by 4%.
UTV Media said it hopes that loss can be mitigated by an increase in advertising to the Christmas market on radio in Great Britain - possibly as high as 9% compared to last year.
On Radio GB, UTV said revenue over the period grew by 5% compared to the same period last year.
"The UK radio market declined by 2% in the same period. We anticipate that revenue in November and December in this division will be 9% above last year," said the official statement.
On Radio Ireland, revenue over the period declined by 4% compared to last year with sterling translation exchange gains accounting for 1%.
"The like-for-like decline in sales was therefore 5%, continuing a significant outperformance of the Irish radio market.
"It is expected that November and December will be flat compared to last year," UTV said.
On TV, revenue over the period increased by 1% which was in line with the network.
"It is anticipated that this division will experience a revenue decline of 7% over the two month period of November and December," they said.
On New Media, revenue over the period was 1% up on that achieved in the same period in 2010 and this trend is expected to continue in November and December.
However, the economic environment continues to bring uncertainty and volatility to the airtime market with visibility remaining very limited.
UTV is one of only three companies from Northern Ireland that is listed on the stock exchange in London.
(BMcC)