UTV suffers 4pc fall in revenue
PROBLEMS in Ireland continued to hit media group UTV as the economic problems dog the sector.
In a trading statement released yesterday, the company said revenue from Ireland fell by 4pc during the first 10 months of the year.
That represented a like-for-like decline of 5pc, which "continued a significant out- performance of the Irish radio market", the company said.
UTV counts Q102 and FM104 among its stations, as well as a host of regional broadcasters in Ireland. It also owns TalkSport in the UK.
Revenue from Ireland is expected to be flat year on year for the last two months of 2011.
Growth in the UK however offset the Irish losses, with revenue from the radio operations there climbing 5pc on the year.
Turnover at the firm's TV operation rose marginally but UTV said it expected a 7pc decline between now and the end of the year. Revenue overall rose 2pc on the year.
"In the last two months of the year, the decline in television ad revenue is likely to be mitigated by an increase in advertising revenue from Radio GB," the company said. UTV closed flat at €1.30 in Dublin.