UK radio operator, Wireless Group, has halved its losses and is currently enjoying strong ad revenue growth, according to financial results for the six months ended 30 June 2002, released this morning.
Pre-tax loss at the group halved, down from £17.5 million for H1 2001 to £8.9 million this time. The group also produced its first operating profit during June as a result of revenues from the broadcast of World Cup football matches on the flagship TalkSport station.
Advertising revenues easily outperformed that market, showing a 7.6% growth over the period. June’s strong performance seems to have continued for the group, with July’s revenues up by 11.0% year on year and August set to show growth of at least 10.0%.
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