UTV Media's advertising revenues grow in first quarterThursday 15 May 2014 09.31
Broadcaster UTV Media has recorded growth in both television and radio advertising revenue in Ireland in the first three months of the year.
UTV's Irish radio stations include FM104 and Q102 in Dublin, Limerick's Live 95 and Cork's 96FM.
Irish radio revenues rose by 9% during the first quarter in euro terms - or 6% when translated back into sterling - to £5.1m
It said it expects its Radio Ireland revenues for the first half of the year to be up by 5% - or 8% on a local currency basis - on the same time last year.
The company also reported an 11% rise in Irish net television advertising revenue which it said was an "encouraging" return to growth in Ireland ahead of its planned launch of a new television channel here in 2015.
UTV Media said it was well advanced in getting additional programming and in developing "high quality local programming" which will appeal to Irish viewers.
"We remain confident of the opportunity that the new channel offers us to create significant long term shareholder value," the company stated in today's trading update.
The broadcaster posted a 7% rise in first-quarter group revenue as its radio channels benefited from the build up to the 2014 soccer World Cup. UTV reported group revenue of £27.8m for the quarter ended March 31 compared with £26m a year earlier.
Revenue from UTV's largest division, Radio GB, rose 10%, while its popular radio station talkSPORT saw a 16% rise in revenue in the quarter.