The following Interim Management Statement for UTV Media plc covers the period
from the beginning of the Group's current financial year, 1 January 2011, to
the date of this announcement and incorporates the Group's ten month trading
period ended 31 October 2011
Trading performance for the ten month period ended31 October 2011and outlook by
During those ten months the Group experienced an overall revenue increase on
continuing operations of 2% compared to last year.
Revenue over the period grew by 5% compared to the same period last year. The
UK radio market declined by 2% in the same period. We anticipate that revenue
in November and December in this division will be 9% above last year.
Revenue over the period declined by 4% compared to last year with sterling
translation exchange gains accounting for 1%. The like for like decline in
sales was therefore 5%, continuing a significant outperformance of the Irish
radio market. It is expected that November and December will be flat compared
to last year, like for like.
Revenue over the period increased by 1% which was in line with the network. It
is anticipated that this division will experience a revenue decline of 7% over
the two month period of November and December.
Revenue over the period is 1% up on that achieved in the same period in 2010
and this trend is expected to continue in November and December.
Net debt continues to improve in line with previous guidance.
Summary and Outlook
The economic environment continues to bring uncertainty and volatility to the
airtime market with visibility remaining very limited. In the last two months
of the year, the decline in Television advertising revenue is likely to be
mitigated by an increase in advertising revenue from Radio GB. In our Irish
radio division, the decline in advertising has flattened in November and
December while our New Media division is continuing to experience some growth.
For further information contact:
UTV Media plc
Group Chief Executive
+44 (0) 28 9026 2202
Group Finance Director
+44 (0) 28 9026 2098
Head of Communications
+44 (0) 28 9026 2188
Figures presented in this Interim Management Statement are not audited. This
announcement contains certain forward-looking statements with regards to the
financial condition and results of the operations of UTV Media plc. These
statements and forecasts involve risk factors which are associated with, but
are not exclusive to, the economic and business circumstances occurring from
time to time in the countries and sectors in which the group operates. These
forward-looking statements are made only as at the date of this announcement.
Nothing in this announcement should be construed as a profit forecast. Other
than required by law, UTV Media plc undertakes no obligation to update the