The latest report from Virgin Radio shows an increase in profit before tax, for the year to July 31, of £1.57m compared to a £3.1m loss last year. It is the first time annualised profit for the radio company has been achieved since its launch in 1993. Operating profit was also up from £2.2m to £2.52m and turnover was at £15.7m from £10m.
A spokesperson from Virgin hinted that Classic FM may be fined for not releasing its financial figures on time but could not be drawn to comment any further.
Virgin Radio: 0171 434 1215
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