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UTV Media revenue dips on weak radio advertising
August 27, 2013 / 7:13 AM / 4 years ago

UTV Media revenue dips on weak radio advertising

Aug 27 (Reuters) - Northern Irish broadcaster UTV Media Plc’s revenue fell 10 percent as advertising revenue at its radio businesses in Britain and Ireland continued to decline.

However, the company said on Tuesday trading challenges of the first half have eased in the second half of the year.

“The prospect of additional international partnerships and the build-up of interest in the FIFA World Cup, starting with the draw at the end of this year, should provide further revenue opportunities,” Chairman Richard Huntingford said in a statement.

Revenue slipped to 55.2 million pounds ($85.99 million) in the six months ended June 30 from 61.6 million pounds a year earlier.

Revenue at the company’s British radio business, which owns the popular sports radio station talkSPORT, was down 14 percent at 24.1 million pounds. Ireland radio revenue fell 10 percent.

Television advertising revenue in the first half was down 8 percent, but the company said ad revenue was growing strongly in both Britain and Ireland and was expected to rise 11 percent in the third quarter.

Group pretax profit fell 43 percent to 6.1 million pounds. The Euro 2012 football championship helped first-half profit last year.

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