Chrysalis has released interim results for the six months to 28 February 2007, stating that Chrysalis Radio is expected to show a decline in revenues.
In a trading update released today, Chrysalis said that owing to the challenging UK radio advertising market, its radio division is expected to show a decline of around 9% for the six month period.
However, it added that the second half has started positively, with March revenues expected to be up at least 2%, whilst current trading has been particularly good with an encouraging level of forward bookings for the remainder of the year.
Trading for the group for the first half of the year is broadly in line with expectations, with the statement saying that both the radio and music businesses remain well placed to outperform the sectors in which they operate in the current financial year.
Meanwhile, Chrysalis says that the review of its radio division, intended to facilitate the group’s participation in the future of UK commercial radio (see Chrysalis Initiates Formal Review of Strategic Operations), is making good progress.
The review could lead to a demerger of the company’s radio and music businesses.
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