Scot Radio Profits Up 37%

Scottish Radio Holdings this morning announced final financial figures which show that pre-tax profits have risen 37% to £7 million, while turnover has increased 66% to £28m. SRH’s local newspapers contributed £1.5m to the group’s profits. Like for like ad revenue in the first two months of the new financial year also increased, rising 6% year on year.

In terms of radio, profits increased by 27%, though SRH believes that there is “still headroom for considerable growth in radio’s share of total ad spend.” SRH also announced that it is extremely interested in expansion and will be looking seriously at the opportunities provided by both Digital Audio Broadcasting and the recent relaxation of cross media ownership rules.

Broadcast revenue accounted for over 95% of radio turnover, 57% of which was booked in Scotland: this local broadcast revenue grew by 6% over 1995. National broadcast revenue, booked via the group’s sales house in London, increased by 29% over the year.

Overall SHR’s results compare favourably with its rivals’ recent postings. Emap’s radio interests saw ad revenue increase by 25% and SRH’s growth easily outstripped Capital Radio’s which saw profits rise 21% and turnover increase by 15%. GWR’s latest turnover increased by 63.2% to £52.2 million.

Scottish Radio Holdings: 0141 306 2202