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THE CHAIRMAN OF UTV Media says he expects the company to move into profit in the second half of next year.
However, an overall loss of between €2.5 and €3.7 million is still forecast for the 2015 calendar year.
The media group released its interim results for the six months up to the end of June this morning.
It says that the World Cup helped drive sales in the period, with group revenue growth of 13 per cent to €72.63 million reported, compared to a figure of €64.34 for the same period last year.
Overall, group revenue is expected to be up by 3 per cent in the third quarter of 2014.
Its new Irish TV channel is due to launch on 1 January, and UTV Chairman Richard Huntingford said he hoped it would in time become the country’s second most watched station, after RTE 1.
“As with all start-up television channels, the challenges of building audiences and attracting advertisers will be greatest in the first six months,” Huntingford said.
“At this early stage we are forecasting a full year loss of £2.0m-£3.0m. However, we would expect to move into profitability in the second half of 2015.”
UK imports
The company owns six Irish radio stations as well as UTV TV and a number of UK radio stations and websites, including the national broadcaster talkSPORT.
It announced last week that Pat Kenny had signed with the station to present a new show — the details of which have yet to be confirmed.
‘UTV Ireland’ is promising to offer serious news and current affairs coverage, in addition to a diet of UK soaps and other imports, including Coronation Street, Emmerdale and The Graham Norton Show.
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Ahhhhhhh its a great little country ain’t it. No future for any young person/s looking to get on the housing ladder. Because when ye eventually get the holy grail loan approved ye be gazzumpd by the the very people who offered ye the house in the first place.KIP.
The Davos Wokes, of which Leo is a ‘young global leader’ have told you straight up that you will own nothing and you WILL be happy about it. What part of this is confusing or continually a surprise for people?
No way. Who would have thought that if you price gouged people, they wouldn’t have money to spend in the local economy? Well, colour me surprised.
@Ciaran Burke: yep, the best time to by a house is now, as the property gurus would say…
This is where the government will stand in and pay the rest so they can take equity and keep the prices high for their developer friends.
Ireland is overrated!
@marian: Well the comments section would give you the impression it’s a third world country
@Mickety Dee: well if you look at our housing and health depts, it keeps going the way it is it won’t be far off.
@Mickety Dee: When you look at the infrastructure and the health system, Ireland is closer to African countries than to continental Europe. The quality of life is higher than in most EU countries, but the standard of life is much lower.
Never had an issue with the health department.
Apart from the occasional wait in A&E – longest was 10 hours, while annoying, was totally understandable due to patient prioritisation.
Yes there’s too many managers, yes money gets wasted, yea, the staff are underpaid & overworked, but when you think of the volume of people they’re seeing, it’s probably not that much based on percentages.
No one can solve the Housing crisis until the promised Referendum on Housing is run and passed asap.
There is no provision in the Irish Constitution, unlike other advanced democracies, on the importance of affordable and secure housing ownership or rental and this is having dreadful consequences on many ordinary people who are left without the security of their own home.
The Referendum must be run asap to enable all the legislation needed to remove the barriers to affordable homes. VAT alone is €28,000 on a new home – obscene. 37% of the price of new homes is “artificial” and can be removed by a Referendum.
https://www.change.org/p/irish-referendum-on-family-home-special-status
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