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Chrysalis Radio Revenues Turn Positive

Chrysalis Radio Revenues Turn Positive

Advertising revenue at Chrysalis Radio fell by 11.8% from September to December 2001, the group’s AGM was told this morning.

“This in part reflected trading difficulties associated with the events of 11 September, but more importantly reflects the prevailing difficult economic conditions for the advertising market and the challenging comparables from the year before, when our growth over the same period was 45%,” said chairman of Chrysalis Group, Chris Wright.

January is looking more positive though; growth stood at 8.4% year on year last month and the forecast is for modest growth to be maintained during February. Trading for the full year remains in line with expectations, as outlined in the group’s financial results last November (see Strong Radio Performance Aids Chrysalis Results).

The latest quarterly audience RAJAR figures (released last week) showed further growth for Chrysalis Radio’s stations with a 7.7% increase in total trading hours in the last three months and 17% growth year on year.

Shares in Chrysalis Group were unchanged at 240p by mid-morning today. Stock in Capital Radio, meanwhile, was down by 10½p at 652½p after Goldman Sachs forecast that revenues would be down by 12% in the first half of the year.

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