Defying the adspend slump, Britain’s Capital Radio increased revenues by 2% year-on-year in the six months to September 30.
However, a 7% decline in first half turnover means that the group expects full-year revenues to be down 2%.
Capital’s shares jumped 7%, although this had more to do with the news that ratings-grabbing breakfast DJ Chris Tarrant has decided not to quit.
Capital can at least take solace from the fact that – like rivals Scottish Radio Holdings and GWR Group, both of which posted results last week – it outperformed Emap, whose ad revenues in the last six months tumbled 7% [WAMN: 25-Sep-02].
None of them, however, can match Chrysalis, owner of stations such as Heart FM, which expects revenues to jump 9.5% for its full year.
Data sourced from: Financial Times; additional content by WARC staff