Scottish Radio Sees Encouraging Growth In First Half
Scottish Radio Holdings group revenues are expected to grow by 10% according to its half-year trading update. A rise of 12% in radio revenues and 8% in press revenues is also expected.
Trading for the first six months, ending on 31 March 2004, shows that radio and press revenues are estimated to be 14% ahead of last year, including acquisitions.
Radio broadcast, on a like-for-like basis is expected to be up 12% on last year. This reflects a growth of 11% in national advertising revenues, 13% in local and 12% in sponsorship and promotions income. Radio broadcast revenues, including acquisitions are estimated to be 18% ahead of last year’s figures for the same period.
Revenues for the Score Press division, which publishes 43 local weekly newspapers, are expected to rise by 8% compared with the corresponding six month period of last year. Advertising revenues are forecast to show an increase of 6% with circulation revenues and other income (mainly from printing contracts) estimated to be up 7% and 16% respectively.
The SRH board considers the company to be in a strong position to continue to develop. “The first six months are encouraging and have shown good performances but it is still too early for the group to forecast how the full year will turn out”, said the statement.
This week, radio holding companies Emap and GWR also announced that they expect to see a rise in group revenues. Emap says it expects to see a group increase of 9%, with radio revenues rising by 7%. GWR predicts an 8% increase to group revenues. GWR’s local radio division, Local Radio Group, is expected to generate a 6% increase for the first quarter of 2004 (see GWR Sees Radio Revenues Up By 8% In 2003).
Scottish Radio Holdings: 0141 565 2200 www.srhplc.com
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