GCap revenue up 16 per cent

GCap Media are expecting total revenue for July to be 16 per cent higher than 12 months ago, the group said in a statement today. They remain on track to achieve the 5.5 million pounds of additional cost savings that was announced in May.

Online revenues for the quarter are up 38% year on year, with increased traffic in the quarter to June, and 1.4 million average monthly unique users.

GCap are expected to enter into discussions shortly with interested parties about selling digital spectrum currently used by Core and Life on Digital One, as the company ceases investment in these brands.

Ralph Bernard, Chief Executive of GCap Media, commented: 'We are continually improving the business and finding new ways to unlock its full potential. We have already achieved cost savings far greater than envisaged at the time of the merger and are confident that we can deliver substantial margin improvements in the future. Our brand portfolio has been streamlined, audiences are being built at all our major stations and we are investing where we can see attractive returns. Encouragingly, we are beginning to see signs of improvement in advertising revenues, despite an uncertain outlook for consumer confidence.'

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