GCap Media has announced that it expects like for like revenue growth to be up 7% in January, with radio advertising also up 7%.
In a trading statement released today, GCap said that this “represents an encouraging start to the quarter as the comparable period to 31 March 2007 was the year’s strongest in terms of revenue growth”.
“Since the time of the Group’s half year statement in November, the radio advertising market has continued to see reasonable growth.”
“In the quarter to 31 December 2007, like for like revenue growth of 4% reflected a strong sales performance in the context of a 4% reduction in total hours. Total revenues for December were up 9%.”
Fru Hazlitt, who was appointed GCap chief executive last December, will outline her plans for the group in a presentation to analysts and shareholders on 11 February.
Earlier this month GCap revealed that it had turned down a £310 million takeover bid from Global Radio (see GCap Turns Down Takeover Bid From Global Radio).
GCap said that it rejected the offer as “the board believed that it significantly undervalued the company”.
Related Links
