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BRIEF-UTV Media sees fall in Q2 revenue at Radio GB
May 14, 2015 / 6:32 AM / 3 years ago

BRIEF-UTV Media sees fall in Q2 revenue at Radio GB

May 14 (Reuters) - Utv Media Plc

* UTV Media Plc: interim management statement

* Radio Ireland revenues were unchanged in three months to March on a constant currency basis and down 10 pct including exchange movement

* In Q2 we anticipate Radio Ireland revenues will be up 1 pct on a constant currency basis and down 10 pct including exchange movement, in line with expectations in local currency

* TalkSport’s revenue, including TalkSport international and sport magazine, was down 1 pct due to strong comparison from World Cup build-up in 2014

* In comparison to same three month period in 2013, talkSport revenues were up by 14 pct

* Revenues from our local radio business were up by 2 pct and within this our airtime revenue was up by 5 pct

* UTV Ireland has had a slower start to the year. It is still very early in the life of UTV Ireland and there is considerable volatility in its performance

* National radio market was up 5 pct

* We believe Q1 performance is in line with Irish commercial radio market

* In Q2, again against particularly strong comparatives, we anticipate Radio GB revenues will decrease by 16 pct, with talkSport down by 25 pct and local radio station revenues flat, in line with expectations

* Radio GB revenues were unchanged in three months to March

* Given that volatility we think it would be appropriate to reduce our revenue forecasts for 2015 by 2.5 million pounds Source text for Eikon: Further company coverage:

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