Northern Irish radio and television broadcaster UTV Media has said that its new UTV Ireland television service has had a slow start to the year.
In an interim management statement, the company said there was "considerable volatility" in UTV Ireland's performance.
Given that volatility, it said it feels it is appropriate to reduce its revenue forecasts for this year by £2.5m.
"The strategic logic of UTV Ireland in creating leading television operations throughout Ireland remains clear," the company said.
UTV Media also said that today it expected second-quarter revenue at its largest division Radio GB to fall 16% from a year earlier, a period which saw the 2014 FIFA World Cup build-up.
UTV said revenue at its talkSPORT radio station would fall 25% in the second quarter.
It predicted that second-quarter revenue at the broadcaster's television business, which accounted for about a third of sales last year, would rise 37%, due to the inclusion of UTV Ireland.
The broadcaster said it remains positive as to the full market performance of its Radio Ireland division in local currency. "We have market leading positions and we will continue to benefit as the Irish economy continues to recover," the company said.
UTV Media owns several radio stations in Ireland, including FM104 in Dublin, Live95FM in Limerick and 96FM in Cork.
Shares in the company had closed 7% lower in Dublin trade today.