Third Outdoor Acquisition Enhances Scottish Radio Portfolio

Scottish Radio Holdings (SRH) today reported the acquisition of a third outdoor advertising group as well as a 15% rise in turnover to £24.5 million in its financial results for the 6 months ended 31 March 1999. Pre-tax profit was up by 35% to £7.2 million, and earnings per share were up by 41% to 17.9p.

Chairman of SRH, Lord Gordon of Srathblane, commented: “These results show excellent progress in our existing businesses, and the group is well placed to continue its record of strong growth. In less than two months we have consolidated our position in the attractive outdoor market with two further acquisitions following Trainer in March.

The acquisition of three outdoor groups has begun an outdoor division for Scottish Radio, and the group is hoping that its outdoor ventures will increase its potential for ad revenue. SRH acquired Trainer Outdoor Advertising for £27.5 million (see Newsline), and landed Bristol-based outdoor advertiser, Parkin Advertising, for £8.9 million late last month (see Newsline).

Yesterday, SRH bought its third outdoor group – Vision Posters. It acquired the Birmingham based group, which has 1,040 48-sheet equivalent panels in the Midlands, for £15.4 million.

SRH is also intending to submit an application for the digital radio multiplex for Glasgow, which the Radio Authority advertised earlier this year (see Newsline). Score Digital, which is SRH’s digital radio subsidiary, intends to submit the application in June.

Scottish Radio Holdings: 0141 565 2202