While ITV powerhouses Carlton and Granada remain embroiled in a protracted struggle to save their merger plan, the minority TV groups are going quietly and efficiently about their business. Ulster Television’s AGM took place today and shareholders have been be told that the group remains on target to outperform its high profile peers.
In ‘challenging’ conditions, the Northern Ireland broadcaster saw revenues rise by almost 5% last year, as against a 1% decrease across the entire ITV network. This performance has been maintained in the first quarter of 2003 with television advertising revenue up by 2% compared to a 4% decline in ITV as a whole.
The second quarter promises to be more difficult as the comparitive includes additional revenue from the World Cup. Nonetheless, UTV anticipates that its television revenues will be down by just 1% while ITV posts a 5% slump.
As for radio, Ulster is able to report “good revenue growth” and expects earnings to be up by 3-4% on a like for like basis in the first half year. There are also high hopes that the online division UTV Internet will see profitability in the near future.
Shares in Ulster TV were up 8p at 284p at 11.30 today.
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