UTV revenue tumbles 5pc in first quarter as British market weak
UTV Media Plc said its first-quarter revenue fell 5pc, hurt mainly by a weak performance at its British radio business, which includes the popular sports radio station talkSPORT.
The trading challenges experienced in the first-quarter are expected to continue in the second quarter with year-on-year revenue declines due to adverse market conditions and the absence of a major sporting event in the first half of 2013, UTV said.
Revenue at the company's core Radio GB business that runs talkSPORT, fell 7pc to £12.2m in the three months to March 31. Revenue from talkSPORT decreased 10pc.
Group revenue was £28.1m during the quarter, down from £29.5m a year earlier.