Global losses down to £31m

Global Radio's pre-tax losses for last financial year are expected to be down to just £31m when they're announced later this week.

It's a marked improvement on the previous 12 months when the UK's biggest commercial radio group made a loss of £193.5m.

A report in today's [link=]Daily Telegraph[/link] suggests Global will say that the advertising environment remained tough in 2009 and early 2010, although audiences improved.

Total revenues for the year will be reported as £204m, with the company's debt levels currently standing at about £95m.

The latest accounts to be filed at Companies House this week are also expected to show that Global's best-paid director (presumed to be Ashley Tabor) received total remuneration of £2.5m for the year, significantly higher than the £550,000 in the group's 2009 accounts.

Posted on Wednesday, January 26th, 2011 at 9:16 am by RadioToday UK

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