UK radio broadcaster UBC Media Group has this morning turned in a set of financial results ahead of the market’s expectations. Turnover rose by 46% to £6.2 million and gross profit reached £1.7 million, up 35% on last time.
During the year UBC launched and co-founded Oneword, the only national commercial digital station dedicated to the spoken word. It also joined the MXR digital consortium, which won the first four regional digital licences.
The company acquired the Classic Gold station format, along with 12 AM licences, from GWR Group in September last year. GWR was forced to sell the stations after its acquisition of DMG Radio from the Daily Mail & General Trust took it over the ownership limits. GWR retained a 20% stake in the Classic Gold Digital Ltd holding company set up to house the stations; UBC owns the remaining 80%.
Commenting on the results, Michael Peacock, chairman of UBC Media Group, said: “We have a profitable core business with a high level of recurrent revenues, a strong and experienced management team with a proven track record in the radio sector and an established reputation as the UK’s largest independent producer of customised audio content. In addition, we entered the new financial year with the foundations of our digital business in place and intend to build further on them during the forthcoming year.”
UBC’s objectives are to grow its position at national, regional and local levels and to become market leader in the emerging mobile data market. It also expects to become a key player as digital migration occurs in the major broadcasting markets of mainland Europe.
Shares in UBC were up 3½p at 30½p by mid-afternoon.
