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BUZZ-UTV Media: signals Radio GB woes
May 14, 2015 / 7:47 AM / 2 years ago

BUZZ-UTV Media: signals Radio GB woes

** Northern Irish radio and television broadcaster UTV Media falls as much as 16 pct, one of the top losers on the FTSE All Share Media Index

** Stock fell below 52-week low of 162.50p before it recovered to trade at 170p

** The company expects Q2 revenue at its largest division Radio GB to fall 16 pct from a year earlier, a period which saw the 2014 FIFA World Cup build-up. The revenue was flat in Q1.

** “UTV Ireland has experienced a ‘slower’ start than anticipated and it is experiencing ‘considerable volatility’,” Numis analysts write in a note

** UTV down 5.7 pct YTD (RM:aastha.agnihotri.thomsonreuters.com@reuters.net)

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