Exceptional Revenue Growth Reported At GMG Radio

Guardian Media Group Radio (GMG Radio) today announced that national airtime revenue’s have grown by 86% in the last year and annual turnover is up by 61%.

The trading update for year ending 31st March 2004 shows that turnover, excluding revenue from records and events, has increased to £21 million from £13 million in the previous year.

John Myers, GMG Radio, chief executive said: “GMG Radio has enjoyed a very positive year, outperforming its peers within the industry on a number of fronts. With strong support from its parent, GMG, is well placed to continue to grow.”

GMG Radio owns London’s JazzFM and four regional stations; Real Radio in Wales, Scotland & Yorkshire and Smooth FM in the Northwest; together they achieved a 47% rise in local airtime revenue says the statement. Each station saw exceptional increases with SmoothFM achieving the highest growth of 103%, followed by a 93% increase for the group’s youngest station, Real Radio in Yorkshire.

Bob Phillis, GMG Plc, CEO said: “We are delighted with the progress made by all five stations during the year and I look forward to further growth and commercial success based on these solid foundations.”

Guardian Media Group: 020 7278 2332 www.gmgplc.co.uk

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