Ulster Television PLC
4 May 2000
Chairman's AGM Statement
At the Annual General Meeting of the Company held today, the Chairman, Mr.
John McGuckian, made the following statement to shareholders:
'1999 was a significant year for your Company as we prepared the ground for
the foundations from which to build the broader enterprise envisaged within
our strategic review of the business which we carried out during the year.'
'With the restructuring programme completed by the end of the year and a more
efficient television operation poised to take full advantage of the increased
demand for airtime, we were able to focus our energies on implementing the
strategies identified in the review.'
'Early in 2000, the first building block was put in place with the acquisition
of the leading internet service provider in Northern Ireland, Direct Net
Access Limited (DNA). Since then, we have been making extensive preparations
for the launch in June of our all-Ireland internet service which will place
UTV at the forefront of the new media age in this island. The new service
will carry the strength of the UTV brand name which will assure instant
recognition and delivery of a quality service.'
'UTV Internet will be our vehicle for the delivery of customer focussed,
innovative yet simple to use technologies. Using our strong media presence
throughout Ireland and through strategic alliances with leading telecoms
providers we expect to attract 60,000 subscribers in our first year of
'In the Annual Report, I referred to the current year, 2000, as having got off
to a good start. In the four months to the end of April, advertising revenue
increased by a healthy 9%, and indications are that growth in May will be
'Significant levels of self-promotion continue to be a feature within ITV, but
despite this, we expect to at least maintain our share of network advertising
revenue for the year as a whole. As I indicated earlier, television operating
costs should be contained at the 1999 level.'
'Now, just before we move on to the formal business of the meeting, I want to
draw to your attention that Lord Antrim retired from the Board on 3rd February
this year after many years' distinguished service to your Company. I wish to
thank him, and indeed reiterate my thanks to Desmond Smyth who retired as
Managing Director last September, for their invaluable contribution to the
progress of the Company. On your behalf, I extend our best wishes to them
both for long and happy retirements.'
For Further Information :-
- John McCann Ulster Television plc 028 90262201
- Jim Downey Ulster Television plc 028 90262176
- Bobby Leach Shandwick 020 73290096