Profits Up 28% At Scottish Radio

Scottish Radio today announced interim results for the half year to 31 March 1998 which showed a rise of 16% in turnover to £21.3 million while pre-tax profits increased 28% to £5.8m.

The company, which owns radio stations including Moray Firth Radio and West FM and newspapers such as the Montrose Review and Kincardineshire Observer , also said that it was on the look-out for acquisitions. Chief executive Richard Findlay commented: “Record figures have been achieved and the group is well-placed to continue its policy of both organic growth and further acquisitions at sensible prices.”

Amongst the local weekly newspapers there was operating profit of £1.8 million, reflecting a growth in advertising of 8%.

Regarding its digital radio plans, Scottish Radio said that it intends to apply as a local digital multiplex operator in its key markets in Central Scotland and Northern Ireland. It also said that the operating performance of the group remains strong and the board is therefore confident of a satisfactory outcome for the year as a whole.

Scottish Radio c/o Buchanan Communications: 0171 466 5000