Radio First, the company which has recently launched a set of football club-affiliated radio stations (see Radio First On Target For Football Station Launches), today said that the ventures should become profitable in the medium term.
The group managed to reduce losses from £2.0 million to £0.8 million, in the full year ended 30 September 2001. The company had a year-end net cash balance of £2.5 million.
Keith Harris, chairman of Radio First, said: “The initial response to all stations is most encouraging, particularly in the current advertising market, and is paving the way for additional joint ventures and we are well on our way to achieving our medium term objective of making each station profitable.”
