Ulster TV Emerges Relatively Unscathed From ITV Ad Slump

Overall advertising revenue for the ITV network was down by 13.5% in 2001, UTV managed a drop of just 6.1% thanks, said the company, to stringent cost-control produced operational savings. Operating profits for the group’s television interests were £12.4m compared to £14.2 million in 2000 whilst the company’s radio acquisition, County Media, contributed operating profits of £1.4m for the period from 12 April.

Operating losses on internet activities were substantially reduced from £0.8 million in 2000 to £0.2m in 2001 with an operating profit of £0.15m being recorded in the second half of the year.

John McCann, managing director of UTV plc said: “In a year when the media industry faced significant challenges, UTV outperformed the market and increased its operating profits. Group turnover was also up 5.3% to £43.0m, from £40.8m last year.”

“We continue to outperform the network in 2002. The first quarter has seen a 13% decrease in ITV’s advertising revenue compared to just 2% at UTV. This is due to a buoyant local advertising market which continues to significantly reduce the impact of national advertising cutbacks” he concluded.