UTV sees revenue grow 9% to end of Q3

Revenue across all sections of UTV Media’s business in the UK and Ireland increased in the first nine months of the year, helped partly by improving economic conditions and the 2014 FIFA World Cup.

To the end of September, revenues for both its British and Irish radio segments as well as the company’s television segment increased, resulting in overall revenue growth of 9%.

The growth of Radio Ireland, up 6%, outpaced the Irish commercial sector— similar to the situation in Britain where the group’s revenues from radio grew by more 15% in the nine months to the end of September.

In addition to helping offset adverse currency movements, the World Cup helped lift the Group’s talkSPORT station to revenue growth of 23%— far in excess of the national market which saw growth of just 8%.

Television revenues also rose in the period with its core TV business growing by 5%.

The group is due to venture into the Irish national television sector in January 2015 with the launch of UTV Ireland which has attracted some well-known personalities to front its programmes, including former Late Late Show host, Pat Kenny.

The media company’s strong growth enabled it to pay down £3.2m (€4.03m) of its debt reducing the overall figure to £45.9m.

Davy Stockborkers’ John Stokes said that group revenues for the period were marginally behind those forecasted but added that the outlook for Q4 is better than previously anticipated, despite warnings of reductions in government television advertising in Northern Ireland and negative currency impacts.