Capital Radio has today announced record results. Pre-tax profit for the year to September 31 was up by 48% year on year to £26.5 million; turnover is also at a record level, up by 30% to £67.4 million. In addition, there is an exceptional profit of £13.4 million from the sale of their stake in Metro Radio.
Ian Irvine, Chairman, said, “All our stations benefited from the dramatic improvement in commercial radio’s relationship with its advertising customers. …. we have enjoyed buoyant trading conditions with particularly strong growth from national advertisers (21%) and sponsorship and promotions (37%).
He also revealed that Capital are looking seriously to expand overseas, and also in the new multimedia market. He said the new year had started well, and that “we remain very confident about our prospects.”
Capital’s share price rose this morning by 14p on the news to 454p.
Capital Radio: 0171 608 6080
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