UTV Media plc Interim Results for the six months ended 30 June 2013

portfolio news

Financial highlights *

• Group revenue of £55.2m (2012: £61.6m)
• Pre-tax profits of £6.1m (2012: £10.7m)
• Group operating profit of £7.8m (2012: £12.4m)
• Net debt of £50.2m (June 2012: £50.0m)
• Net finance costs of £1.6m (2012: £1.8m)
• Pension deficit of £6.0m (2012: £12.4m)
• Diluted adjusted earnings per share of 5.18p (2012: 8.78p)
• Proposed interim dividend of 1.75p (2012: 1.75p)
 

Operational highlights and prospects 

• Clear signs of return to revenue growth in all our business units
• talkSPORT achieved highest audience in the station’s history
• talkSPORT successfully renewed exclusive national audio broadcasting rights for two
  Premier League packages for the next three football seasons
• talkSPORT extended its global audio rights agreement with the Premier League to offer
  exclusive live audio commentary of Barclays Premier League matches across Europe.
  The service now broadcasts in nine languages
• Absence of a major sporting event and decline in the UK radio market impacted Radio
  GB in H1 but prospects for strong talkSPORT revenue growth from the World Cup in 2014
• Radio Ireland assets continued to outperform the market with strong audience delivery
• Television division again outperformed the network in audience delivery achieving the
  highest peak-time audience in three years
• Merger of Simply Zesty and Tibus Digital Agency businesses to form one of Ireland’s
  largest full service digital agencies
• New Media restructuring will deliver improved offering and profitability
• Broadcast assets well placed to benefit from the improving macro-economic conditions
• Strong cash generation remains a key feature of our business
• Robust balance sheet with significant net debt reduction over the past five years

 * As appropriate, references to profit include associate income

 John McCann, Group Chief Executive, UTV Media plc, said:
 “As expected the first half of the year has been challenging for the Group.  However, we remain confident about the prospects for growth in the second half and as we move into the 2014 World Cup year.”

For further information contact:
Maitland +44 (0) 20 7379 5151
Rowan Brown
UTV Media plc
John McCann Group Chief Executive +44 (0) 28 9026 2202
Norman McKeown Group Finance Director +44 (0) 28 9026 2098
Orla McKibbin Head of Communications +44 (0) 28 9026 2188