UTV Warns Of Reduced Revenues For Second Half

Ulster Television (UTV) issued a downbeat trading statement this morning, warning that revenues from its broadcast and multimedia businesses across Britain and Ireland will be down by around 3.5% in the six months to December.

The company reported that revenues at UTV Radio are expected to have risen by around 5%, “comfortably” outperforming the radio advertising market in Britain, while trading in the second half for the rest of its divisions is “broadly in line” with expectations.

Advertising revenue from the company’s Irish radio stations continues to enjoy good growth, with a year on year increase of around 16% expected for the second half, while a healthy revenue increase of 50% is described as “achievable” by the firm’s new media division.

Earlier this year saw UTV, purchase the Wireless Group, adding the company’s national talk station, talkSPORT, and 16 independent local radio stations to its portfolio. This morning UTV said cost synergies would achieve estimated savings of £1.5 million in the first full calendar year of ownership.

First Radio Sales, UTV’s joint venture sales house with the Local Radio Company, now sells the national airtime for its local radio stations.

Commenting on the trading update, group CEO John McCann, said: “We are very pleased with the performance of UTV Radio, especially talkSPORT where revenues are well ahead of last year. With the football World Cup in 2006, we anticipate continued growth at UTV Radio and we look forward to the launch of Talk 107 in Edinburgh on 14 February.”

UTV: 02890 328122 www.utv.co.uk