UTV revenues slide all round

15th May 2009 07:09

Revenues slumped in the first four months of 2009 at radio and TV broadcaster UTV, with the Ulster-based media group also cautious over the rest of the year.Revenues since January fell by 9% compared to last year. After adjusting for the impact of the two businesses acquired in 2008, FM104 and Tibus, the like for like decline was 14%, though UTV achieved its budgeted operating profit.Revenue in the Television division to the end of April declined by 19%, which was in line with the network. Revenue for the division will be down by 20% at the half year.Turnover in the Radio GB division declined by 15%, based on continuing operations, in market that declined by 18%. Revenue in this division will be down by 9% in May and June in line with market conditions a little better.Radio Ireland division grew revenue by 25% in the period to 30 April compared due to the FM104 acquisition and weak sterling. The like for like decline was 17% and this trend is expected to continue in May and June. New Media revenue grew by 2% with Tibus accounting for 7%. "We remain cautious about trading prospects for the year but our cost cutting measures are having a positive impact," UTV added.