In what UTV chairman John McGuckian described as a "challenging environment", the regional broadcaster's television advertising revenues for the half year were up 1%, compared with a decrease of 5% for the ITV network as a whole. The station also clocked a record share of the ITV advertising market with 2.37%, compared with 2.25% in 2002.
After a tough summer, ITV advertising revenue in the quarter to September 30 was expected to be down by about 6%, whereas UTV expected a decrease of just 1%.
In the interim statement published yesterday, McGuckian said the results were "encouraging" and suggested "cautious optimism" for the coming months. However, he stopped short of any talk of an upturn.
His comments follow recent statements by Aegis and WPP, which suggest a recovery is on the way, although these all contrast with a gloomy Advertising Association report published this morning.
The short term looks good for UTV, with the prospect of the Rugby World Cup in October, which has boosted TV advertising bookings up by 9% for the month compared with September.
Radio and new media also showed encouraging signs for UTV. For radio, like-for-like advertising revenues rose by 4.3% and operating profit went up to £1m from £800,000 in 2002. This success was put down to the acquisitions in 2002 of Lite FM in Dublin and Live FM in Limerick. Internet revenues rocketed by 70% in the period to £1.6m, thanks to a growing subscriber base in the Republic of Ireland.
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