Scottish Radio Holdings yesterday reported a 20% jump in first-half profits to £16.3 million, up year-on-year from £13.6 million. Turnover increased by 30% to £71.7 million, up from £355.1 million a year earlier.
SRH, which owns radio stations in Scotland, the Republic of Ireland and Northern Ireland, also delivered an upbeat forecast for its second half, triggering a rise of 47.5p in its share price to £12.10. Its main stations – Radio Clyde in Glasgow, Radio Forth in Edinburgh and Downtown Radio in Northern Ireland – remained market leaders in their respective areas.
The group is currently applying for digital licenses across England and is also involved in the development of newspaper and internet interests.
News source: The Times (London)