GWR Sees ‘Some Improvement’ In UK Radio Market

GWR today released a trading update for the year ending 31 March 2002. In January the group announced that like for like revenues for the UK were down by 10.8% year on year for the quarter to 31 December 2001.

For Q1 2002, GWR anticipates that like for like revenues will be flat including a 4.8% reduction year on year in national revenues and a 2.7% increase in local revenues. Total group revenues for the quarter are forecast to increase by 1.4% year on year.

In the UK, like for like revenues in the six months to 31 March 2002 are forecast to be down 6.0% and for the full year down 5.5%.

GWR said that, in recent weeks, some improvement had been visible in the radio advertising market but warned “it is too early for us to be confident that these conditions reflect a sustained recovery. Accordingly, we remain cautious over the outlook for radio revenues.”

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