Capital Radio saw pre-tax profits rise 9% to £35m for the year to 30 September on the back of turnover up 14% to £86.1m. The results also revealed that the cost of MSM’s closure is £1.6m.
Turnover in London improved in the second half though increased local competition resulted in slower growth than among the group’s other stations. Capital’s Birmingham and Southern operations experienced strong revenue growth and out-performed the market as a whole.
Regarding digital radio, Capital said that it is continuing to assess the potential of this new technology and will be looking closely at the costs for launching and running digital services. It will also depend on “the regulatory framework for digital radio currently being formulated by the Government.”
Capital Radio: 0171 766 6000
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