UTV Media's TV advertising revenue up 15% in third quarter

Friday 15 November 2013 13.04
Interim management statement from UTV Media
Interim management statement from UTV Media

UTV Media, which recently announced plans to open a new television station here, has said its net advertising revenue from television in Ireland was up 15% during the third quarter.

In an interim management statement, UTV said it expected its total television net advertising revenue for the fourth quarter to be up by 8%,.

Its Irish revenue is expected to rise by 10% and its London revenue is predicted to be in line with last year.

The media group also reported a 5% rise in its Irish radio revenue over the three months to the end of September on the back of improving markets conditions.

The trading statement noted that the year-on-year improvement in radio revenues from £4.5m to £4.7m for the third quarter is due to a strengthening of the euro against sterling. In local currency terms, UTV's Irish radio revenues were down 2%.

UTV said that the outlook for the final three months of the year is better, and it expects to outperform the market with a revenue increase of 8%, or 5% on a local currency basis. 

"After the very difficult trading conditions of the first six months, it is good to be able to report that the group has moved into year on year revenue growth in H2," the company said in today's trading update.

It said that as it moves towards 2014, it is further encouraged by the prospect of a continuation of these improved market conditions, along with the commercial opportunities arising from the FIFA World Cup.