Scottish Radio Holdings (SRH) has issued a positive trading statement to shareholders, for the period October to December, announcing an 11% growth in revenues and a 5% increase in like-for-like revenues.
Although the national radio market was challenging in the first quarter, especially during December, SRH reported a strong performance in local radio advertising, with radio revenues for the Group up 3% year on year. Press revenues also increased by 8% compared with the same period three months ago.
Speaking at the Group’s annual general meeting, Lord Gordon of Strathblane CBE, chairman of SRH, was optimistic about the company’s performance over 2005. He said: “Early trading for all revenue streams looks encouraging for the second quarter. The Board therefore looks forward to a good result for the group overall, for the financial year to 30 September 2005.”
Last November, the Group issued a trading statement announcing that last year the company had achieved record results, with group revenues growing by 14%, beating the group’s previous expectations of 9% (see SRH Exceeds Expectations With Record Results).
SRH expect to announce its interim results on 19 May 2005.
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