Ashley Tabor, Global Radio’s chief executive, expects the radio group to hold its underlying operating profits flat for the 12 months to the end of March.
Tabor said Global, which owns stations including Classic FM and Capital, will report underlying profits of around £31 million despite seeing a 20% downfall in advertising revenues for the same period.
He told the Times the company is forecasting steady year on year underlying operating profits for the 12 month period, even though the UK radio advertising market has fallen by around 15% to 20% year on year.
Global only filed accounts for the year ending March 2008 last week, which showed that its revenues were up from £193 million to £200.6 million year on year.
The group’s underlying operating profits increased from £13.3 million to £16.1 million on a like-for-like basis, however, the company reported a statutory operating loss of £66.5 million.
