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GWR Group Sees Flat Revenues, Cautious On Outlook

GWR Group Sees Flat Revenues, Cautious On Outlook

Radio revenues at GWR Group were flat in the final three months of 2002, despite a 14% increase at the group’s flagship Classic FM station, the company announced in a trading statement this morning.

National airtime revenues were also flat, whilst local sales dropped by 4%. Like-for-like revenue figures for January 2003 are expected to show an improvement of around 5%. Nevertheless, the group remains cautious on the advertising outlook.

GWR’s figures are poorer than Scottish Radio Holdings’ (SRH), which saw a 6.5% increase in like-for-like revenues during the three months to the end of December (see Scottish Radio Sees Good Start To The Year). By comparison, Capital Radio’s revenues were down by 6% (see Capital Radio Ad Revenue Falls 6% In Q4 2002), leaving GWR Group somewhere in between.

The Q4 2002 radio audience data has been released this morning by RAJAR. Classic FM saw its share of listening improve by 0.2% points to 4.7%, reaching an average of 6.7 million listeners a week.

Shares in GWR Group were up 2.2% at 137p by late morning today. The stock trends of Capital Radio, GWR and SRH for the last three months are shown on the graph below.

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