Dublin acquisition FM104 helps SRH to increase revenues 11%

by Daniel Farey-Jones

March 29, 2005

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Dublin acquisition FM104 helps SRH to increase revenues 11%

LONDON – Scottish Radio Holdings has reported half-year revenues up 11% despite a 4% decline in national radio advertising revenues.

SRH released the figures in a trading update covering the six-month period from October to March.

The business owns 22 radio stations including Radio Clyde and Dublin's FM104, and 45 local newspapers. Speculation continues to link Emap, which owns a 27% stake in SRH, with a bid for the whole company.

Excluding the effects of last year's acquisition of FM104, radio revenues are only expected to be up 3%. Like-for-like national advertising revenues were down 4% but local advertising, sponsorship and promotions revenues grew 9%.

Press revenues were 7% up on the back of improvement in advertising and circulation revenues.

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