Revenue up at UTV in 'most difficult' market conditions
UTV Media has attributed a 4 per cent increase in revenue in part to the popularity of Euro 2012, even if did not reap rewards from the Olympics, according to its latest interim results.
The Belfast group reported an increase in revenue to £61.6 million (€77.5m) for the first six months of the year, while overall pre-tax profits rose by 3 per cent to £11.2 million in what its chairman described as “the most difficult of trading conditions”.
UTV operates across three key sectors – television, radio and new media. It has 21 radio stations in Britain and Ireland, and is the ITV franchise holder for Northern Ireland. UTV television is also available in 75 per cent of homes in the Republic. UTV’s other divisions include a broadband and telephone services provider, a digital agency and a social media marketing company.
The interim results show UTV’s overall radio operating profits increased by 14 per cent in the first six months to £10 million. However, it continued to battle with the “poor advertising revenue market in Ireland” which was down 10 per cent in the first half.