Monday 20 January 2020

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.

Reuters

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