On May 30, GCap will report its results for the 12 months ended March 31 2007. A 9% drop in total revenues will translate to a fall from £210.7m in the previous financial year to £191.7m.
However, the group said in the first quarter of 2007 it expects to outperform the radio advertising market for the first time. It expects like-for-like first-quarter revenues to increase 1% year on year, this excludes the two Century stations it sold to GMG Radio last October.
GCap has recruited Eyre, a former chief executive of Capital Radio and ITV, as non-executive deputy chairman.
Eyre today resigned from the board of Guardian Media Group, a rival to GCap in radio, but remains chairman of TV producer RDF Media and mobile phone content company I-Play.
Eyre is also a member of the Internet Advertising Bureau and the value of his digital experience was cited by Ralph Bernard, chief executive of GCap.
Bernard said: "Although the market remains uncertain and visibility short-term, we are encouraged that the group has been showing an improving trend over the past six months and that we are outperforming the radio advertising market for the first time.
"We have a strong board and senior management team in place. Now, having stabilised the business, we intend to focus on the excellent opportunities we see in the digital world -- particularly online."
GCap's shares climbed 4.6% to 220.75p since the stock market opened this morning..jpg)
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