17th May 2011 07:00
Interim Management Statement 17th May 2011
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 four month trading period ended 30 April 2011.
Trading performance for the four month period ended30 April 2011and Outlook by Business Division
During those four months the Group experienced an overall revenue increase on continuing operations of 3% compared to last year.
Radio GB
Revenue in our Radio GB division for the four months to the end of April grew by 4% compared to the same period last year. The UK radio market declined by 2% in the same period. We anticipate that revenue in May and June in this division will be 9% lower than last year by reflecting the negative effect of the World Cup comparison.
Radio Ireland
Revenue in our Radio Ireland division declined by 5% in the period to 30 April compared to last year with sterling translation exchange losses accounting for 2%. The like for like decline in sales was therefore 3%. It is expected that this like for like trend will continue in May and June.
Television
Revenue in our Television division to the end of April increased by 8% in line with the network and it is anticipated that this division will experience revenue growth of 2% in May and a decline of 8% in June as a result of the World Cup comparison.
New Media
Revenue in our New Media business in the first four months of 2011 is similar to that achieved in the same period in 2010 and this trend is expected to continue in May and June.
Net Debt
Net debt continues to improve in line with previous guidance.
Summary and Outlook
In the current environment of economic uncertainty airtime bookings offer limited forward visibility and we therefore remain cautious about the remainder of the year. Nonetheless our Television and Radio divisions have had a good start to the year, outperforming in their respective markets and we are currently on track to meet market expectations for the year.
For further information contact:
Maitland +44 (0) 20 7379 5151Anthony SilvermanRowan BrownUTV Media plcJohn McCannGroup Chief Executive+44 (0) 28 9026 2202Norman McKeownGroup Finance Director+44 (0) 28 9026 2098Orla McKibbinHead of Communications+44 (0) 28 9026 2188Cautionary Statement
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 forward-looking statements.
vendorRelated Shares:
WLG.L