Page last updated at 09:03 GMT, Thursday, 27 August 2009 10:03 UK

UTV turnover drops by 10% in 2009

Havelock House, UTV

UTV Media has declared a 10% drop in turnover from £60.9m to £54.5m for the first six months of 2009.

There was a 23% reduction in television advertising revenue, with business from the Republic of Ireland down by 40%.

The company said that disposal of loss making radio assets and cost-cutting helped to mitigate the effect of falling advertising revenue.

As a result, while revenue fell by £6.4m, group operating profit was only down by £4.4m to £11.0m.

Pre-tax profit was £7.8m compared to £11.2m in the same period in 2008.

John McCann, chief executive of UTV media, said it has been a "challenging six months".

"However, our results demonstrate the resilience of the business," he said.

"Over the last six months we have actively sought to reduce costs and reduce our debt.

"It is difficult to give a detailed outlook because of continuing macroeconomic uncertainty, nonetheless we are expecting the rate of decline in advertising to slow as comparatives ease over the coming months."



Print Sponsor


SEE ALSO
UTV in sports magazine purchase
22 May 09 |  Northern Ireland
Advertising downturn hits UTV
15 May 09 |  Northern Ireland

RELATED INTERNET LINKS
The BBC is not responsible for the content of external internet sites


FEATURES, VIEWS, ANALYSIS
Has China's housing bubble burst?
How the world's oldest clove tree defied an empire
Why Royal Ballet principal Sergei Polunin quit

BBC navigation

BBC © 2014 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.

Americas Africa Europe Middle East South Asia Asia Pacific