Ulster TV Revenue Set To Grow By 16%
ITV-owned Ulster Television (UTV) got off to a very good start in 2004 and expects advertising revenue to grow by 16% during the first six months of 2004.
Chairman John MGuckian said: “A continuing feature of UTV’s progress is out-performance. Our net television advertising revenue in the first six months of the current year is expected to increase by 16% compared to 3.5% for ITV as a whole, with the Irish marketplace performing well throughout the period and the European soccer championship fuelling additional demand in June.”
Radio revenues at UTV’s Cork and Limerick stations have grown by 8.5% in the first five months of this year and action has been taken to remedy the weakness in its Dublin based station. McGuckian said: “This action is already starting to bear fruit with the most recent joint national listener-ship research data showing the audience reach had increased from 9% to 12% at Q102 in Dublin. We would expect to see further improvement in both listener-ship and revenue in the second half of the year.”
New media continues to grow strongly for the group, as internet revenues rise by 40% for the first five months to May but as the company acquires customers to drive broadband penetration, operating margins will reduce in the first half of this year but will further increase in profitability in the full year.
McGuickan added: “Overall, the current year has got off to a very good start, but the advertising market is still relatively short term and it is impossible to predict trading prospects in the second half with any great certainty. However, our continuing strong performance in Ireland provides positive indications for the year as a whole.”
Ulster TV: www.u.tv
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