Commercial radio group, Chrysalis, has announced an improvement in trading within the radio advertising market during January and February 2005.
According to the Group’s pre-close statement issued today, trading for the Group is reported to be in line with the Board’s expectations for the full year, confirming predictions made in January (see
Chrysalis Optimistic For 2005, Despite 3% Revenue Fall).
During the first half of the financial year a decline in audience figures and volatility in the national advertising market affected Chrysalis Radio. However, the strengthening of the market in the first couple of months of 2005 has led the Group to be more optimistic for the coming year.
Chrysalis Music enjoyed a good start to the current financial year, with the publishing division performing well, aided by albums from Lucie Silvas, Feeder and Athlete enjoying considerable UK chart success.
Chrysalis’s publishing operation, “The Echo Label” has an exciting line up of albums scheduled for the second half of the financial year. The timing of these releases has led Chrysalis to predict a stronger performance for Chrysalis music in the second half of 2004.
Chrysalis Books continues to trade in line with budget and is on track to meet targets for the full year, although as in prior years the operating result is biased towards the second half of the year.
The 2005 interim results for the Chrysalis Group are due to be announced on Monday 9th May.
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