The Local Radio Company said today that it is continuing to restructure its portfolio and reduce its central overheads.
It is understood that the company’s restructuring process will see it sell around four more stations.
In unaudited results for the six months to 31 March, TLRC said like for like revenue from continuing operations was down 7.2% to £7 million.
Trevor Smallwood, The Local Radio Company chairman, said: “Whilst trading conditions remain difficult and the advertising market remains depressed, the board has taken and continues to take action to restructure the business and reduce its cost base.
“On balance, the board believes that following the restructuring and with some further operational improvements the Group will be able to operate profitably and benefit from the upturn when it arrives.”
TLRC yesterday announced the sale of Arrow FM in Hastings and Sovereign Radio in Eastbourne to Media Sound Holdings (see The Local Radio Company sells Hastings and Eastbourne stations).
