UK radio group doubles profits

Shares in British radio group GWR rose more than 3% today after it said it had almost doubled profits last year.

GWR, which owns Classic FM and 33 local radio stations in the UK, saw its stock climb 8.25p to 253.25p after it said pre-tax profits before one-off items and goodwill in the year to March 31 rose 99.5% to £17.1m (€25.6m).