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UTV Media profit falls on weak ad revenue in first half
March 18, 2014 / 7:41 AM / 4 years ago

UTV Media profit falls on weak ad revenue in first half

March 18 (Reuters) - Northern Irish broadcaster UTV Media Plc reported a 16 percent fall in full-year pretax profit, hurt mainly by weak advertising revenue in the first half, but said it had seen continued growth in the first three months of this year.

The company reported a pretax profit of 16.9 million pounds ($28.1 million) for the year ended Dec. 31 compared with 20.1 million pounds a year earlier.

Revenue slipped 11 percent to 107.7 million pounds at the company, which owns exclusive rights to broadcast 380 Barclay’s Premier League football matches outside of Europe.

Shares in the Belfast, Nothern Ireland-based company closed at 244.50 pence on Monday on the London Stock Exchange.

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