Guardian Media Group (GMG) Radio has revealed a healthy performance for its stations, despite the tough conditions in the current commercial radio market, showing revenues for the October to December quarter of 2005 to be up by 22% year on year.
The group’s strong trading results follow record annual figures for the year ended March 2005, with the company reporting a 17% rise in revenue, with a first operating profit of £1.5 million (see
GMG Reveals 17% Revenue Growth Across All Stations).
Commenting on the figures, John Myers, chief executive officer of GMG Radio said: “While the market is tougher our unique brands are demonstrating double digit growth with ever increasing audience figures alongside them.”
Myers added: “The final quarter has also started well and I am confident that the growth will continue over the coming months.”
GMG houses the Real Radio brand of regional stations, broadcasting in Wales, Scotland and Yorkshire and the recently launched Smooth FM, serving London and across the northwest of England.
In August, GMG group as a whole, reported profits almost halving, dropping to £22.9 million from £43.8 million at the same point in 2004 (see Senior Americans Not Interested In The Internet).
Group turnover for GMG, increased, however by 18% to £751.9 million for the period and total operating profit was shown to be up to £122.4 million from £84.5 million.
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