Despite posting a half-year pre-tax loss of £1.1 million, UK radio services group UBC Media reported a seventy per cent increase in revenues boosted by strong airtime sales.
In the six months to September 30, year-on-year losses narrowed from £4.2m, thanks in part to a first contribution from Classic Gold Digital, a new unit peddling an ‘oldies’ regional radio concept. This bolstered turnover by £1.45m and returned a profit of £203,000.
The group’s core business of producing multimedia content and the provision of programmes to BBC Radio and its commercial rivals remained robust, with revenues across this portfolio rising by 10% year-on-year from £2.41m to £2.65m.
UBC retained its popularity with advertisers with its offer of national radio campaigns from a single source and a larger aggregated audience than any single national commercial station.
UBC also expressed optimism for its digital radio prospects, enhanced by the upcoming retail advent of the first digital radio receivers priced at under £100, as well as the launch next year of the BBC's digital radio stations.
News source: Financial Times