GWR Group plc has today announced results for the twelve months to September 30th 1996. Pre tax profits rose by 54.9% to £8.2 million (compared to £5.3 million last year). Turnover increased by 63.2% to £52.2 million in 1996, which compares to £32.0 million for 1995.
The good performance can be attributed to the £17.1 million sale of Prospect, a New Zealand radio station, which yielded a net profit of £3.8 million for the company, the acquisition of East Anglian Radio and the proposed merger of 83% of Classic fm for £71.5 million. This is part of GWR’s continuing strategy to develop itself into the UK’s leading radio group.
Commenting on the figures Henry Meakin, Chairman of GWR said, ” In 1996 we acquired East Anglian Radio, moved into the London market, further expanded overseas and most recently announced proposals to merge with Classic FM. The current year has started positively and we are very well positioned to deliver further value to our shareholders.”
GWR: 01793 422700
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