UTV has announced its Interim Management Statement for the four month period ended April 30th with the news that they have experienced an overall revenue increase of 3% on last year’s figures. The broadcaster’s trading performance for the four month period ended April 30th and saw a rise in its television sector and new media revenues but suffered a 5% decline for its Radio Ireland division.
Where UTV’s television sector is concerned, the group saw a revenue increase of 8% in line with the ITV network, of which UTV is a licensee. UTV anticipates that this division will experience revenue growth of 2% in May and a decline of 8% in June as a result of the World Cup comparison with last year’s figures.
The report, compiled by financial analysts, Maitland found that income in UTV’s New Media business in the first four months of 2011 is similar to that achieved in the same period in 2010 and this trend is expected to continue in May and June. The Maitland findings further note that UTV’s net debt continues to improve in line with previous guidance.
Though revenue in the group’s Radio GB division for the four months grew by 4%, their Radio Ireland division declined by 5% compared with last year with sterling translation exchange losses accounting for 2%. The like for like decline in sales was therefore 3% with this trend expected to continue for May and June.
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