UBC Paints Bleak Outlook For Radio Trading
Radio content and station operator, UBC Media, has this morning said that the advertising outlook for the remainder of the year remains depressed, with little sign of any improvement in sentiment.
This bleak prognosis comes as UBC announces its half-year results. Turnover rose by 21.3% to £5.0 million, whilst gross profits were up by 26.6% at £1.6 million. Radio revenues grew 5.5%, against an industry decline of 2%.
UBC runs the Classic Gold set of stations after acquiring a majority stakeholding in the business from GWR Group in 2000. Classic Gold increased both listening and revenues, as well as securing digital carriage in London.
“It has been a rewarding six months in which UBC has once again shown that its core business is performing well and has enabled us to move towards operating profitability sooner than had originally been expected,” said chief executive Simon Cole.
Shares in UBC Media remained unchanged at 25p just before midday today.
