UTV Media Plc Interim Management Statement

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The following Interim Management Statement for UTV Media plc covers the period from the beginning of the Group’s current financial year, 1 January 2011, to the date of this announcement and incorporates the Group’s four month trading period ended 30 April 2011.

Trading performance for the four month period ended 30 April 2011 and Outlook by Business Division

During those four months the Group experienced an overall revenue increase on continuing operations of 3% compared to last year.

Radio GB

Revenue in our Radio GB division for the four months to the end of April grew by 4% compared to the same period last year. The UK radio market declined by 2% in the same period. We anticipate that revenue in May and June in this division will be 9% lower than last year by reflecting the negative effect of the World Cup comparison.  

Radio Ireland

Revenue in our Radio Ireland division declined by 5% in the period to 30 April compared to last year with sterling translation exchange losses accounting for 2%. The like for like decline in sales was therefore 3%.  It is expected that this like for like trend will continue in May and June.

Television

Revenue in our Television division to the end of April increased by 8% in line with the network and it is anticipated that this division will experience revenue growth of 2% in May and a decline of 8% in June as a result of the World Cup comparison. 

New Media

Revenue in our New Media business in the first four months of 2011 is similar to that achieved in the same period in 2010 and this trend is expected to continue in May and June.

Net Debt

Net debt continues to improve in line with previous guidance.
 
Summary and Outlook

In the current environment of economic uncertainty airtime bookings offer limited forward visibility and we therefore remain cautious about the remainder of the year. Nonetheless our Television and Radio divisions have had a good start to the year, outperforming in their respective markets and we are currently on track to meet market expectations for the year.

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