Media group UTV, which owns FM104 in Dublin, has reported like-for-like revenue growth of 3% for its Irish radio division for the first ten months of the year to the end of October.

The Irish division delivered 50% of growth, which the group attributed mostly to currency transfer gains (15%) and acquisitions (32%).

UTV acquired the entire issued share capital of The Internet Business Limited (Tibus) for a total of £5m sterling in February. That deal saw revenue from new media rise by 15%.

In a trading statement released today, the group said it raised almost £50m from a rights issue in July.