Growth at Xfm and Century sees Capital revenue up 3%

LONDON - Strong growth at Xfm and Century FM has seen Capital Radio issue an upbeat trading statement, saying that it anticipates a 3% rise in radio revenues over the past six months.

Capital said today that radio revenues are likely to have improved by 2% in the first quarter of 2004 and that, looking ahead, April will continue to show modest revenue growth, meaning nine months of year-on-year growth for the company.

"Our revenue performance continues to be enhanced by the group's portfolio of stations across the UK and we are achieving particularly strong growth from Xfm, the Century FM Network and the recently acquired Choice FM," Capital said in a statement.

Shareholders will be keeping a keen eye on the performance of Johnny Vaughan when he takes over the all-important 95.8 Capital FM breakfast slot from Chris Tarrant on April 19.

In today's statement Capital said: "We are encouraged at the prospect of Johnny Vaughan taking over the breakfast show on 95.8 Capital FM but recognise that this will not have a material impact on our revenues until our new financial year."

At the beginning of the year 95.8 Capital FM ran an advertising campaign as part of its continuing battle with London station Heart FM, which briefly took over the slot as London's most-listened to radio station.

Capital FM regained its lead, however, with the latest Rajar figures showing that it had 2.3m listeners for the quarter ending December 2003, giving it 400,000 more than the Chrysalis-owned Heart FM.

Shares in the company rose by almost 2% this morning to 495.35p, a rise of 9.35p. Capital Radio is due to release its interim results on May 20.

If you have an opinion on this or any other issue raised on Brand Republic, join the debate in the Forum here.

0
SHARES
Comment

Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus
Brand Republic Jobs
Thousands of jobs across advertising, creative, marketing and media

Just published

Feel you're missing out?

GET THE
BRANDREPUBLIC
BULLETINS
Sign up

The Wall Blog

From our partners

3 great ads I had nothing to do with: Brian Cooper

3 great ads I had nothing to do with: Brian Cooper

3 great ads I had nothing to do with: Catherine Kehoe

3 great ads I had nothing to do with: Catherine Kehoe

A day in the life of Jozef Wallis

A day in the life of Jozef Wallis

A day in the life of Arthur Kay

A day in the life of Arthur Kay

A day in the life of Daniel Kaplansky

A day in the life of Daniel Kaplansky

Have an exciting Christmas in EC1

Have an exciting Christmas in EC1