Media group Scottish Radio Holdings today reported a 14 per cent rise in group operating profit in six months to the end of March of £10.9 million sterling.
SRH is the owner of FM 104 and Today FM and an extensive portfolio of regional newspapers on both sides of the Border including the Longford Leader, the Leitrim Observer, the Kilkenny Peopleand the Tipperary Star. It has 24 titles north of the border.
The company's results offered further evidence of a recovery in the advertising sector with ad revenues rising 7 per cent and circulation revenues growing 6 per cent.
Turnover was up from £41.5 million to £47.2 million while like for like revenues grew by 10 per cent. After interest, profit before exceptionals and goodwill increased by 13 per cent from £8.6 million to £9.7 million.
SRH completed the purchase of Dublin radio station FM 104 during the results period. As a result, SRH also now has a stake in the Newstalk radio station. Including acquisitions, the company said radio broadcast revenues were up 19 per cent on the same period the previous year.
The company said it had invested £0.8 million in digital radio and Internet operations over the period. SRH announced an interim dividend of 7 pence compared with 6.5 pence compared with the previous six months.