Overall revenue at UTV Media rose by 2 per cent in the 10 months ending October 31st, but the Irish radio market continued to decline.

The group said revenue at the Irish unit fell by 5 per cent on a like-for-like basis compared to last year. The remaining two months of the year are expected to be flat.

In Britain, radio revenue rose by 5 per cent year-on-year, with the UK radio market falling by 2 per cent in the same period.

"We anticipate that revenue in November and December in this division will be 9 per cent above last year," UTV said in a statement.

Although, television revenue grew by 1 per cent, with a decline of 7 per cent predicted in November and December.

"The economic environment continues to bring uncertainty and volatility to the airtime market with visibility remaining very limited," UTV said.

"In the last two months of the year, the decline in television advertising revenue is likely to be mitigated by an increase in advertising revenue from Radio GB."

New media also saw a 1 per cent rise in revenue over the 10 months, with the trend is expected to continue in the final months of the year.