15th May 2014 10:45
LONDON (Alliance News) - UTV Media PLC said Thursday it expects to see revenue growth of 12% for its first half, boosted by the continuation of better trading conditions and by the FIFA World Cup.
The company saw revenue grow 7% in the first quarter to end-March and said this had continued into the second quarter. It expects revenue to rise 18% in the second quarter, boosted by the football tournament, leading to a total growth of 12% for the half year.
In UTV's Radio GB business, revenues rose 10%, driven by strong growth from its talkSPORT business. It expects this business to do well from the World Cup, seeing revenues up 45% in the second quarter.
Radio Ireland revenues rose 6% during the quarter, as positive market conditions. In its Television business, net advertising revenue rose 3%, driven by growth in Irish net advertising revenue. For the half year, television revenues are expected to grow 9%.
UTV said that the growth in the Irish television market was encouraging, as it will launch a new channel in Ireland in 2015, with content provided by ITV studios primarily.
It expects to announce its interim results August 26.
Shares in UTV were trading down 1.8% at 228.75 pence Thursday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
Copyright 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
UTV.L