01/08/2014 22:35:00 Free Membership Login

Interim Management Statement

Date : 05/17/2012 @ 2:00AM
Source : UK Regulatory (RNS & others)
Stock : Utv Media (UTV)
Quote : 218.0  -1.0 (-0.46%) @ 11:29AM
UTV Media share price Chart

Interim Management Statement


 
TIDMUTV 
 
UTV Media plc 
 
Interim Management Statement 17 May 2012 
 
The following Interim Management Statement for UTV Media plc covers the period 
from the beginning of the Group's current financial year, 1 January 2012, to 
the date of this announcement and incorporates the Group's four month trading 
period ended 30 April 2012. 
 
During those four months the Group experienced an overall revenue increase from 
continuing operations of 2% compared to last year. Excluding the impact of 
negative foreign exchange movements, the increase in revenue in this period was 
3%. 
 
Trading performance for the fourmonth period ended30 April 2012and Outlook by 
Business Division 
 
Radio GB 
 
Radio GB revenue for the four months to the end of April rose by 8% compared to 
the same period last year. This is slightly ahead of the UK radio market which, 
we believe, grew by 7% during the same period. talkSPORT revenue increased by 
16% over the same period. We expect a year on year revenue increase of around 
20% for Radio GB in May and June mainly reflecting the positive impact of UEFA 
Euro 2012 and the build up to the Olympics. 
 
Radio Ireland 
 
Revenue in our Radio Ireland division increased by 1% on a local currency 
basis. We anticipate this positive trend to continue in May and June with like 
for like sales increasing by 3%. However the negative impact of foreign 
exchange movements resulted in an overall revenue decline of 2% from January to 
April and is expected to result in a revenue decrease after exchange of 5% for 
May and June. 
 
Television 
 
National Advertising Revenue (NAR) in our television operations declined by 6% 
in the four month period to 30 April with total revenue (including other 
income) reducing by 4%. We envisage NAR growth of 2% in May and June and total 
revenue in this period to be up by 3%. 
 
New Media 
 
Revenue in our New Media business for the first four months to 30 April grew by 
3% compared to the same period in 2011. We anticipate that in May and June, 
revenues for this division will increase by 15% on last year. This will largely 
reflect the impact of Simply Zesty, the social media agency acquired in March 
2012. 
 
Net Debt 
 
We continue to place emphasis on cash generation and debt management. Our key 
banking covenant ratio of Net Debt: EBITDA was 1.76:1 at 31 March 2012 (1.88:1 
at 31 December 2011). 
 
Summary and Outlook 
 
Trading in the first half of 2012 is currently in line with our expectations 
with the major sporting events of Euro 2012 and the London Olympics expected to 
generate strong revenue growth during the summer. In addition the recently 
announced affiliate relationship with ITV, the acquisition of Simply Zesty, the 
establishment of talkSPORT worldwide and the five year refinancing of our 
banking facilities all offer positive opportunities for the development of the 
business. Continuing economic uncertainty, however, means airtime bookings 
remain short term and forward visibility is limited. We therefore remain 
cautious about the remainder of the year but believe we will continue to 
deliver on market expectations. 
 
For further information contact: 
 
Maitland 
Tom Buchanan/Rowan Brown                            +44 (0) 20 7379 5151 
 
UTV Media plc 
John McCann Group Chief Executive 
Norman McKeown Group Finance Director 
Orla McKibbin Head of Communications                +44 (0) 7879 666427 / 
                                                    +44 (0) 28 9026 2188 
 
Cautionary 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. Because 
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, 
actual results may differ materially from those expressed or implied by these 
forward-looking statements. 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. 
 
 
 
END 
 

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