UTV Profit Increase for Local TV

UTV Media plc, the company which owns the independent company for the ITV Network Northern Ireland franchise has released details its regional television service has made a profit across 2010.

The profit rise goes against the general ITVplc consensus that local television on ITV is a thing of the past. Television advertising revenue from January 1st of this year through to the end of October increased by 11%.

“We anticipate that revenue in this [regional television] division will be up by 11% in the last two months of this year.” UTV Media state.

UTV’s radio operations saw a growth of 17% in revenue across the same period, although Radio Ireland – which is run separately from the other UTV audio broadcast services – suffered a decline of 2%. The ‘new media’ services of UTV Group also declined by 3%

During those ten months the Group experienced overall revenue growth of 9% compared to the same period last year. After adjusting for the impact of foreign exchange and Sport Magazine, which was acquired in May 2009, like for like growth was 8%.

“The uncertain wider economic conditions and the continued short-term airtime bookings make us cautious in our outlook. Nonetheless, the revenue growth experienced by our Television and Radio GB divisions combined with the out performance of our Radio Ireland business provides encouragement going forward.” UTV Media say.