Scottish Radio Holdings (SRH) has reported record annual earnings and profits for the year ending 30 September 2000. Pre-tax profit for the group hit £20m, representing a year on year increase of 27%. Total turnover improved by 30%, reaching £71.7m
Richard Findlay, chief executive of SRH commented, “SRH today has a profitable mix of traditional and new media businesses, led by a strong commercial radio division which is both sustaining its market share in analogue listenership and increasing its commitment to digital and internet opportunities.”
Profits from digital and internet operations, which are expanding thanks in part to SRH’s involvement in bidding for local digital radio licenses (see Radio Authority Awards Digital Multiplex In Northern Ireland) rose from £16.8m during 1999 to £19.2m in 2000. Analogue radio profits rose from £11.4m to £13m, while Score Press increased profits by 10.5% to £5.2m.
SRH’s sheet poster business, Score Outdoor, is now the UK’s fourth largest 48 sheet contractor, having completed the acquisition of 6 companies during the last 18 months. During last year operating profit was increased from £1.7m to £2.3m, a 35% increase. £1.3m was spent during the year in upgrading plant and equipment.
The chairman of SRH, Lord Gordon of Strathblane, said, “These record results underline the continued and profitable expansion of the SRH group. Trading in the first month of the new financial year has again shown an increase in group revenue and we look forward to good prospects for the group as a whole both in 2001 and beyond.”
At 11.30am today, shares in Scottish Radio Holdings were worth £12.10 each, representing a rise of 4% or 47½p on yesterday’s closing price.
Scottish Radio Holdings: 0141 306 2242
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