UTV Media said revenue fell 9 per cent in the four months through April as advertisers cut budgets.
Revenue at its TV station fell 19 per cent in the period and will probably decline 20 per cent in the first six months, the company said today in a statement.
“We remain cautious about trading prospects for the year but our cost cutting measures are having a positive impact and we are currently in line with the board’s expectations,” UTV said in the statement.
Advertisers are cutting budgets as the UK economy remains mired in a recession,
putting pressure on media companies. Last year UTV announced voluntary redundancies and plans to cut costs by £5 million ($7.6 million).
Revenue at UTV’s UK radio stations fell 15 per cent in the four months through April while revenue at its Irish radio stations grew by 25 per cent, UTV said.