GWR Revenues Stay Flat In First Half
Airtime revenues at GWR Group are forecast to be flat for the six months to 30 September, slightly behind the trading at Capital Radio, which saw a rise of 2% over the same period. In a trading statement today, GWR says that UK like for like revenues will be down 2% year on year, but within that Classic FM is up 8%.
Total group revenues were down by 6% in Q2, with national UK revenues down 7% and local spend dropping by 8%; the combined UK decline will be 7%, including a fall of 6% at Classic FM.
These figures are slightly poorer than H1 forecasts from Merrill Lynch, which had predicted a 14% rise for Classic, with local sales down by 5%, giving an overall growth of 1% across the six month period.
SRH Radio Revenues Drop 2% In Full Year
Scottish Radio Holdings (SRH) says that radio revenues are expected to drop by 2% in the year to the end of September. This is offset by a 2% rise in press revenue, leaving overall group revenues flat for the year, excluding acquisitions and disposals. Including acquisitions, radio and press revenues combined are 12% ahead of 2001.
Radio SRH radio revenues comprise UK national advertising revenue (39%), local advertising (43%) and other, mainly local, sources of revenue including sponsorship and promotions (18%).
Total like-for-like radio revenues for the twelve months are expected to be 2% below 2001, which the Board considers a good performance in the prevailing market conditions. A 7% fall in national advertising revenue has been largely offset by local revenues, which increased by 1%, and a 9% growth in sponsorship and promotions.
Including acquisitions radio revenues are estimated to be 18% ahead of last year.
During this financial year SRH acquired Wave 105 in Southampton and the 76% not previously owned of Today FM, the national station in the Republic of Ireland.
Press The group’s Score Press division’s like for like revenues are expected to increase by 2%. Advertising and circulation revenues for the year to 30 September are expected to show increases of 5% and 9% respectively, with a drop in other revenues (mainly contract printing) of 8%.
Including acquisitions press revenues are estimated to be 5% ahead of last year.
The sale of Score Outdoor in July has removed the group’s only loss-making division. SRH says its remaining divisions have produced a strong revenue performance in challenging market conditions.
Subscribers to MediaTel Insight can access this report in full, along with more national and international media analysis, forecasts and news. For subscription details please visit the site.
