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UTV revenues held by Irish radio decline

Thursday, November 15 10:19:38

Revenues at Belfast-based UTV Media were flat in the first ten months of this year, held back by a 6pc decline in its Irish radio division.

UTV's assets in the Republic include FM104, Q102, Limerick's Live 95, Cork's 96FM and LMFM in Louth and Meath with revenues in this division falling by £1 million to £17m.

In an interim management statement, the company said it expects its Irish radio revenue performance in November and December to be down by 5pc compared to last year on a local currency level. Overall group revenues for the ten months to the end of October were flat at £99.5m, while revenues at its UK radio division rose by 5pc to £46m.

The company said that revenues at its television division fell by 7pc to £26.5m, with net advertising revenue down by the same amount. NAR revenue at its Irish office saw a decline of 16pc in the ten month period.

UTV said that advertising revenue is set to fall by 11pc for the rest of the year due to continued difficult trading conditions in Ireland.

UTV's new media operations saw revenues rise by 5pc to £10m in the ten months from January to October. The company said it expects recent restructuring within the division will result in an improved performance next year.