UTV Sees Overall Revenue Increase | The Irish Film & Television Network

During the mentioned four months UTV Media PLC experienced an overall revenue increase which, after adjustments for the impact of foreign exchange and Sport magazine, which was acquired in June 2009, the like for like increase was 2%.

Revenue in the group’s Radio Ireland division declined by 7% in the period to 30 April compared to last year with sterling translation exchange losses accounting for 2%. The like for like decline in sales was therefore 5%. This negative trend is continuing but with some improvement in May and June it is expected to be down by 3% on a like for like basis.

Revenue in the Television division to the end of April increased by 1% with Dublin sales being down by 13%. An interim management statement from the group states that “Improving market sentiment and the World Cup should lead to much stronger revenue growth of 19% in May and June.”

The statement further states: “The performance of our New Media business in the first four months of 2010 is in line with that achieved in the same period in 2009. This is expected to continue in May and June.” UTV Media PLC’s net debt continues to reduce and is expected to continue to decline until December 31st of this year.

The management statement ends with a realistic summary: “Airtime bookings continue to be short term thereby offering limited forward visibility. We are encouraged by the fact that trading in the first half of 2010 is ahead of our expectations, particularly in talkSPORT and Television. However, we remain cautious about the remainder of the year, due to the uncertainty surrounding the pace of recovery in the UK and the timing of recovery in the Republic of Ireland.”

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