GWR Pre-Tax Profits Rise 31%

The GWR Group, which earlier this month called for a review of the rules governing radio ownership (see Newsline), today released its interim results for the six month period up until 30 September 1998.

Turnover increased by 17% from last year, rising to £41.2 million, and pre-tax profit rose a healthy 31% to £8.3 million.

Earnings per share are currently at 1.6p, having risen 23% from last year.

Last month, the Radio Authority awarded the national commercial digital multiplex licence to Digital One, the consortium which is 57% owned by GWR (see Newsline).

Chairman of GWR, Harry Meakin, said of the results: “These results show that much progress has been made across all aspects of the business and the systems and financial controls are better than they have ever been. This is important since GWR, through its shareholding in Digital One, is on the cusp of the most exciting period in UK commercial radio history.”

GWR Group: 0118 928 4300