LONDON - Capital Radio has predicted its profits for 2001 will be down by 27.4% to £30m compared to £41.3m last year.
The group, which owns the Capital FM and Xfm radio stations in London, said radio revenue in the third quarter was down 16% and that overall revenues will be down 6% for the year.
Capital is the latest firm to be hit by the advertising downturn, but it remained upbeat about the future, saying that it believes the prospects for ads are "very positive".
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