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Scottish Radio Defies Gloomy Rivals with Upbeat Forecast

News, 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