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UTV revenue slumps in Irish TV and radio

MEDIA group UTV's revenue for the first 10 months of 2012 fell by €0.37m to €124m.

The company issued its interim management statement this morning in which it said that it remains cautious about prospects for revenue growth.

While revenue was up by 5pc at both the group's Radio GB and new media divisions, rising to €57m and €12.4m respectively, Radio Ireland sales were down 6pc to €21m and television dropped by 7pc to €33m.

In TV, the company said its net advertising revenue (NAR) was down by 7pc. NAR generated by its Irish offices experienced a decline of 16pc.

"NAR for November and December overall is expected to be down by 11pc compared to the same period in 2011 due to continued difficult trading conditions in Ireland," it said.

UTV said that, in local currency terms, Radio Ireland maintained its revenue over the period.