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Chrysalis Radio Continues To Outperform Industry

Chrysalis Radio Continues To Outperform Industry

Chrysalis Radio has seen its revenues rise by 14.8% during the twelve months to 31 August 2003, significantly outperforming the radio industry which grew by just around 3% over the same period. These strong figures come as the group disposes of its television assets to concentrate on the music and radio sectors (see Chrysalis Makes £45m TV Sale To Former ITV Heads).

Chrysalis Radio’s revenues were around £53.2 million for its full year, although final figures will be released in the year-end financial results on 17 November. On a like-for-like basis, excluding the LBC and Galaxy 101 stations, the radio division showed revenue growth of approximately 13.2%.

LBC was acquired in September last year (see Chrysalis Takes GWR’s LNR And Sells Galaxy 101), whilst a planned sale of Bristol dance station, Galaxy 101, to GWR Group was unexpectedly blocked by the Competition Commission in May this year (see Watchdog Blocks GWR-Backed Acquisition Of Galaxy 101).

The group says it has had a strong start to its 2004 financial year, with September’s revenues looking to be up by at least 15% year on year.

Shares in Chrysalis Group were unchanged at 207.5p by 10.30am today.

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