Trading Statement
March 28 2003 - 2:01AM
UK Regulatory
RNS Number:3186J
Scottish Radio Holdings PLC
28 March 2003
28th March 2003
Scottish Radio Holdings plc ("SRH")
Trading Update
The Board of SRH issues today a trading update prior to the end of its half-year
(ending on 31 March).
Overview
Trading for the first six months of the financial year (October to March) for
SRH will show an estimated increase in group revenues, excluding acquisitions
and disposals, of 4%, with a 5% rise in radio revenues and a 3% increase in
press revenues.
Including acquisitions, radio and press revenues are estimated to be 24% ahead
of last year.
Commercial radio
Like-for-like radio broadcast revenues for the six months to 31 March 2003 are
expected to be 5% up on last year reflecting an increase of 8% in national
advertising revenue, 3% growth in local advertising revenues and sponsorship and
promotions income increasing by 4% (in both latter cases against a strong
performance at the same time last year).
Including acquisitions, radio broadcast revenues for the six months to 31 March
2003 are estimated to be 32% ahead of the same period last year.
SRH has 23 wholly and partly-owned radio services and operates 5 digital radio
multiplexes (across the UK and the Republic of Ireland).
Score Press
It is estimated that like-for-like revenues for the division will have risen by
3% compared with the corresponding six month period of the previous year.
Advertising revenues are expected to show an increase of 5% with circulation
revenues and other income (mainly from printing contracts) at a similar level to
last year.
Including acquisitions, press revenues for the six months to 31 March 2003 are
estimated to be 13% ahead of the same period last year.
The Score Press division publishes 43 local weekly newspaper titles.
Outlook and Corporate Position
The group has had an encouraging first six months of the current financial year
with good performances from both the radio and press divisions. It remains too
early to forecast how the full year will turn out; however we are pleased with
the start to the financial year and are confident that we are in a strong
position to develop both divisions through organic and acquisition led growth.
The interim results for this period are expected to be announced on Friday 23
May 2003.
Enquiries:
Scottish Radio Holdings plc
Richard Findlay, Chief Executive 0141 565 2202
Alan Wilson, Finance Director 0141 565 2242
Gavin Anderson & Co
Byron Ousey 020 7554 1446
This information is provided by RNS
The company news service from the London Stock Exchange
END
TSTKGGZFNNZGFZM