Thursday, May 15 12:44:23
UTV Media today posted a 7pc growth in revenues for its financial full year to Stg27.8m with clear signs that the advertising market is moving to recovery.
The group figures included a 6pc rise in its Irish radio business to £5.1m. This outperformed the market average, UTV said, which only grew by about 4pc.
British radio revenues did even better, up 10pc to £13.3m, while revenues from its television division gained 4pc to £9.4m.
This pace of growth is expected to accelerate in the second quarter, as its TalkSPORT radio stations benefit in the run up to the football World Cup.
Radio Ireland revenues grew in the first quarter of 2014 with an increase of 6pc (9pc on a local currency basis) representing an outperformance against the market which was estimated to be up by around 4pc (in local currency) in the same period. We expect positive market conditions in Q2 (market up around 1pc), to result in a revenue increase of 4pc (7pc on a local currency basis) in this period. As a result, Radio Ireland revenue for the first half of 2014 is anticipated to be up 5pc (8pc on a local currency basis) on the same period last year.
“The better trading conditions in H2 2013 have continued, as anticipated, into 2014 with Group revenue growth of 7pc in the first three months of the year. We are pleased to be able to report that these positive market conditions are continuing into Q2 and, along with the revenue boost arising from the FIFA World Cup, we expect to see Group revenue increase by 18pc in the second quarter of 2014 and by 12pc for the first six months, in line with expectations,” the statement said.
“It is encouraging that revenue growth has returned to the Irish television market as we progress our plans to launch a new television channel in Ireland in 2015. With ITV Studios programming providing the spine of the schedule, we are well advanced in acquiring additional attractive programming and in developing high quality local programming which will appeal to Irish viewers. We have appointed key personnel with proven track records in the Irish marketplace who will be supported by our already strong media team and existing base of high quality media assets in Ireland. We remain confident of the opportunity that the new channel offers us to create significant long term shareholder value.”