Scottish Radio Holdings (SRH) has issued a upbeat pre-close statement prior to the end of its half-year, showing group revenues for the first six months of the financial year to be 11% up on last year, while like for like revenues are predicted to have increased by a healthy 4%.
Radio revenues for the group for the six months to 31 March 2004 are estimated to be 13% ahead of the same period last year.
SRH attributes this increase to a 9% growth in local advertising, with sponsorship and promotions income increasing by 8%, partially offset by a 4% decline in national advertising revenue.
Press revenues are predicted to be 7% ahead year on year, with both overall and like for like advertising and circulation revenues expected to show increases of 8% and 3% respectively, with a 5% rise in other revenues.
In a statement to the City this morning, SRH said: “We are pleased with the first half and look forward to a good result for the group overall, for the year to 30 September 2005. The Board considers that the group is in a strong position to continue its development both organically and by acquisition; and believes that the immediate and longer term prospects remain attractive.”
Earlier in the year, SRH revealed an 11% growth in revenues for the period October to December and a 5% increase in like for like revenues (see Scottish Radio Holdings Optimistic About 2005).
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