Belfast Telegraph

UTV Media's revenues increase by 9% to £84.7m

By Margaret Canning

Economic recovery in the UK and Ireland has helped UTV Media plc to grow revenues by 9% to £84.7m.

An interim statement by the media business, which launches a new TV channel in the Republic in January, said the growth allowed it to cut net debt by £3.2m.

That would give it a solid fitting for the costs of launching the new entity, which will feature established names in Irish media including former Late, Late Show host Pat Kenny.

Increases in TV revenue of 6% to £27.9m were outshone by Radio GB, where revenue was up 15% thanks to the cash cow of TalkSPORT. In fact, the World Cup hoisted revenue at the talk station by 23%. Revenue at its regional GB radio stations was up 2%, compared to market growth of 3%.

Radio Ireland saw less robust revenue growth of 6% in the nine months to September - though UTV Media said it had nonetheless outperformed the market, which was estimated to be up by around 2% in local currency.

Along with First Derivatives, UTV is one of just two listed companies in Northern Ireland.

Belfast Telegraph