LONDON (Brand Republic) - UK Radio group GWR Group saw its shares rise this morning after reporting that it expects full-year profits for the 12 months to March 31 to be in line with analyst expectations of £20.3m
Its shares were up 17.5p, or 4.14%, to 440p in early trading.
The group attributes its strong performance to its local radio stations, including Q103 FM in Cambridge, Wyvern FM in Worcester, which contributed 40% of revenues to the group.
The national radio sector is currently experiencing a slowdown in advertising revenues.
The company owns Classic FM and co-owns digital radio venture Digital One with UK cable operator NTL.