Capital Warns That Market Will Remain ‘Under Pressure’
Capital Radio this morning released a trading update which forecasts that the advertising market will remain under pressure for the remainder of the year.
Between October and December 2001, Capital revealed that like for like radio revenue was down 9% against the same quarter in the previous year. The company anticipates that revenue will have declined by 5% in the January to March 2002 quarter resulting in a 7% decline in comparable radio revenue for the six months to the end of March 2002. These figures are in line with company expectations.
Capital said: “There has been no material change in conditions since our last trading update in January 2002. We remain cautious regarding current advertising demand and we continue to manage the cost base of our business on the assumption that the advertising market remains under pressure for the rest of our financial year.”
