Scottish Radio Defies Gloomy Rivals with Upbeat Forecast

01 October 2003

UK media group Scottish Radio Holdings looks set to outperform its rivals after releasing an upbeat revenue forecast.

SRH – owner of several regional radio stations such as Wave and Vibe, plus a string of local weekly newspapers – expects to post a 5% rise in like-for-like revenues for 2003 after strong advertising gains. Including acquisitions, revenues are predicted to be up 18% from £63.7 million ($106.3m; €91.1m) in 2002.

The positive forecasts stand in contrast to more downbeat statements released last week by rival radio firms GWR and Capital Radio. The latter is predicting a 4% drop in revenues this year.

SRH's radio unit is expected to report a 6% jump in like-for-like sales on a healthy rise in national advertising. The company's Score Press publishing division, meanwhile, will benefit from a 5% increase in ad takings to post organic revenue growth of 4%.

The company commented: "The board continues to view prospects with confidence and believes the company remains in a strong position to grow the two divisions both organically and by acquisition."

Data sourced from: Financial Times; additional content by WARC staff