AGM Statement
08 8월 2003 - 4:00PM
UK Regulatory
RNS Number:4674O
UBC Media Group PLC
08 August 2003
8 August 2003
UBC Media Group plc
AGM STATEMENT
At the Annual General Meeting of UBC Media Group plc to be held today Michael
Peacock, Chairman, intends to make the following statement:
"UBC Media Group has made a good start to the new financial year.
- The Production Division continues to trade in-line with budget.
Moreover, in the recent commissioning round the Production Division
was awarded a number of important new commissions from BBC Radio 3
and Radio 4, which further extend the range of UBC's programming
operations.
- Classic Gold Digital traded in line with forecasts in the first
quarter of the new financial year. The latest RAJAR survey showed an
improvement in both listening hours and market share for Classic Gold
Digital, underlining our belief that arresting the long-term decline
in listening to AM services can only be achieved through continued
investment in the network. Currently, RAJAR only measures analogue
listening to the Classic Gold Digital network. Measurement of digital
listeners will, however, begin in the final quarter of the year, and
we expect this will show a growing audience for Classic Gold Digital
on digital platforms.
- As I indicated at the time of our Preliminary Results Announcement,
sales of airtime in the first two months of the year were below target,
in line with the rest of the industry. However, the Company took swift
remedial action and I am pleased to report there has since been a sharp
recovery in commercial airtime sales in both June and July, which gives
me greater confidence about prospects for the commercial airtime sales
division for the rest of the year.
Consumers have responded with enthusiasm to the launch of affordable DAB digital
radios. Leading electronics retailer, Dixons, has stated that:
'Sales of digital radios are currently tracking at around 50% of the portable
radio category (by retail value) at Dixons and Currys. We would expect volumes
to grow with the introduction of new products (eg, the forthcoming Roberts
range). The stock position has also improved significantly and we're seeing
healthy levels of customer demand'.
Overall, I am pleased to report that the performance of the Group in the first
four months of the year has been positive, and I believe the outlook for the
remainder of the year is encouraging".
For further information, please contact:
Simon Cole, CEO, UBC Media Group plc Tel: 020 7453 1600
Tim Allan, Portland, for UBC Media Group plc Tel: 020 7404 5344
Notes to Editors
UBC Media Group plc is a UK public company quoted on the London Stock Exchange's
AIM market. The group is a market leader in the supply of content to the radio,
Internet and digital television industries in the UK. In addition to the
entertainment and financial news services provided to commercial radio, the
Group produces the network Chart Show and is the largest independent producer of
radio programming for the BBC. The Group also has significant digital radio
interests including Oneword, the Sony Digital Radio Station of the Year and the
Classic Gold Digital network of stations. It is also part of the MXR
consortium.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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