Turnover increased by 57% to £8m for the company, which broadcasts in London and the North West. It said total listening hours for its two stations had increased by 16%.
But the company warned that recent events and uncertain market conditions made it difficult to predict future prospects.
Sir Harry Roche, chairman of Jazz FM, said, "Next year will be challenging, not only for Jazz FM but for the entire industry." He cited Jazz FM's diversity in its CD business as making the company "well-positioned" to take advantage of any eventual upturn in the market.
Jazz FM has won six digital licences, costing the company £600,000 over 2001/02. Last year's costs in this area totalled £121,000.
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