London News Radio have announced that results to the year end 30 September 1996 were ahead of previously expected forecasts. The company made a loss of £3.094 million which was largely due the relaunch cost of LBC 1152 AM and News Direct 97.3FM , together with the company’s relocation from Hammersmith to Gray’s Inn Road.
“After a little over one year of ownership, operating losses have been significantly reduced and I am pleased to report the company is trading ahead of its plan.” says Ralph Bernard Chairman of London News Radio, “We are now moving towards profitability, June 1997 saw us achieve a break even position well ahead of original projections.”
London News Radio: 0171 312 8500
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