Scottish Radio Holdings (SRH) today reported strong first-half operating results.
But SRH also revealed lacklustre current trading and a drop of 7 per cent in broadcasting revenues for April.
The group - which owns Today FM - said first half overall turnover was up 10 per cent to £51.9 million from £47.2 million, and like-for-like revenues were up 4 per cent.
The board lifted the interim dividend by 7 per cent to 7.5 pence from 7.0 pence.
It also said it has managed to reduce borrowings to £41.7 million, representing gearing of 31 per cent, down from 35 per cent in 2004.
Chairman Lord Gordon of Strathblane said that after the poor showing for radio in April, May is looking better, although still below last year, and current indications are that June will be similar to last year.
Press advertising and circulation revenues were up 8 per cent in April, and the group expects press to continue to perform well in May and June.