Trading is 'patchy but profitable' at UKRD
Trading is continuing to improve at private radio operator UKRD as the group declares an interim dividend to all shareholders.
The company, which owns sixteen stations across England including Stray FM, Pirate FM and Eagle Radio, has advised shareholders that trading continues to be patchy but the underlying position is one of growing confidence and increasing turnover and profitability.
“We are seeing good growth in locally delivered revenues right across the portfolio and although national revenues continue to be depressed in historic terms, the overall position shows the group heading towards a near double digit uplift in turnover,” the group’s Chief Executive Officer, William Rogers told RadioToday.
“We have made a substantial investment in our local teams over the last two years and enhanced considerably the quality of service and support for local advertisers we provide and this is paying off.”
“Having now seen the absurd notion of a DAB switchover removed from the horizon anytime soon, we can now get on and focus on building our business which is what we and many others in the sector should have been doing instead of wasting time and effort campaigning against what was a completely absurd proposition for groups like ours,” he said.