Capital Radio Revenues Nudge Up 3% In First Half

Capital Radio revenues are expected to increase by 3% year on year according to its first half trading statement issued today. This is in line with the group’s expectations.

Trading for the first six months, ending March 2004, shows revenues up by 2% for Q1 2004 and up by 5% for October to December 2003, when compared to the same period for the previous year.

Revenue performance continues to improve into the year and strong growth is being achieved by Xfm, the Century FM Network and the recently acquired Choice FM.

After an unsettled period, advertisers’ confidence has returned. A spokeswoman for Capital Radio said: “There is a lot of demand from advertisers, their confidence is definitely returning and we are actually having to turn some away because there are just not enough slots on 95.8 Capital FM.”

However, Capital Radio’s growth pales in comparison to Scottish Radio Holdings (SRH) which also issued its first half trading update this month. For the same period, SRH expects radio revenues to increase by 12% and overall group revenues, including both radio and press, to grow by 10%.

Capital Radio’s outlook for April is modest, showing revenue growth of 3%. It is hoped that future bookings will be encouraged by the arrival of former Big Breakfast presenter Johnny Vaughan, who takes over the 95.8 Capital FM breakfast show from current host Chris Tarrant.

Capital Radio: 020 7766 6000 www.capitalradiogroup.com

Recent Radio Stories from NewsLine MacKenzie Brands RAJAR Chairman “Totally Unfit” Double Digit Growth Helps Radio Out Of Downturn LBC Secures Deal To Promote Singapore Tourism Board

Subscribers can access ten years of media news and analysis in the Archive