‘Radio Ireland’ revenue up 25%

THE Republic-based radio portfolio of UTV Media – the Belfast-based broadcast media group – has continued to be one of the best performing divisions of the group into 2009, just as it was last year.

In a brief trading update, released yesterday – covering the first four months of the year – UTV said that while overall group revenue was down by 9% for the period on a year-on-year basis, revenue in its ‘Radio Ireland’ division was up by 25%, compared to the same period last year.

‘Radio Ireland’ consists of the Dublin stations, Q102 and FM104; Cork-based stations C103 and 96FM; LMFM in Drogheda and Limerick’s Live 95FM.

FM104 has attributed as much as 28% of the Irish radio revenue boost in the year to date.

UTV’s previously released full-year figures for 2008 – which showed a marginal decline in pre-tax profits to €22m and a 6% rise in group turnover – were aided by the Irish radio portfolio, also with revenues in that part of the business rising by 50% during the year.

Yesterday’s updated figures for the Irish radio division compared to a 15% like-for-like fall in revenues at UTV’s Radio GB arm, for the first four months of this year.

The group’s formerly core television division saw revenues decline by 19% – compared to the same period last year – and management is forecasting a like-for-like fall of 20% in revenues for this division for the first half of the year.

The only other division of the business to show an increase in revenue for the first portion of the year – apart from the Irish radio division – was UTV’s new media division, where revenue rose by 2%.

“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,” the group said .

With regard to the year to date, it added: “Trading in this period was in line with our expectations.”