Media group expects revenues to show 15% increase for full year

SCOTTISH Radio Holdings, (SRH) owner of Today FM and the Kilkenny People, expects revenues to increase by close to 15% this year.

Media company SRH operates 45 local newspapers in Ireland and Scotland and 22 radio licences across Ireland and Britain and Scotland.

In a trading statement yesterday, the company said the outlook for its radio and press businesses is encouraging. It said it expected full-year group revenues up about 15%.

The statement, issued just two days before the end of its financial year, said that its like-for-like revenues will have risen around 9%.

Scottish Radio shares, which have outperformed the media sector by 18% this year, closed at 953 pence on Monday to value the firm at £341 million (€502m). In the newspaper sector, the company estimated that revenues for the division will have risen by 9% over the last year.

“Advertising and circulation revenues for the year to September 30 are expected to show increases of 9% and 6% respectively, with an increase in other revenues of 11%,” a spokesman said. The company said that including acquisitions, radio revenues are estimated to be 19% ahead of last year.

“Like-for-like radio revenues for the 12 months to September 30, 2004 are expected to be 9% up on last year, reflecting an increase of 7% in national advertising revenue; 12% growth in local advertising revenues and sponsorship and promotions income increasing by 7%,” the spokesman added.

The statement said the board views the immediate and long-term future with confidence.

In Ireland SRH owns the Kilkenny People, Nationalist & Munster Advertiser, Tipperary Star, Leitrim Observer, the Longford Leader, Morton Newspapers, Ballymena Times, Ballymoney Times, Banbridge Leader, Carrick Times, Coleraine Times, Dromore Leader, Farm Week, Larne Times, Londonderry Sentinel, Lurgan Mail. Midulster Mail, Portadown Times, Tyrone Times and Ulster Star. It also owns Today FM and FM 104, Cool FM and Downtown.