Media firm expects to buck trend

Scottish Radio Holdings (SRH), owner of Today FM and several other Irish media assets, expects to buck international trends by…

Scottish Radio Holdings (SRH), owner of Today FM and several other Irish media assets, expects to buck international trends by reporting strong advertising revenues shortly.

SRH owns Today FM and the following newspapers in the Republic: Kilkenny People; Nationalist & Munster Advertiser; Tipperary Star; Leitrim Observer and Longford Leader. It has also bid for Trinity Mirror's Northern Ireland newspaper titles. The company is due to announce annual results in mid-November for the year to September 30th.

While other international media groups have announced falling revenues, SRH in a trading statement said it was on course for a 5 per cent rise in revenues for the year to the end of September.

Revenues at the company's 23 radio stations are expected to be up by 6 per cent, with a 4 per cent increase predicted at its newspaper division, Score Press.

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"The board continues to view prospects with confidence and believes the company remains in a strong position to grow its two divisions both organically and by acquisition," said SRH managing director Mr Richard Findlay.

The company's press results are likely to be particularly strong considering the climate, said the company. "Like-for-like revenues for the press division are expected to have increased by 4 per cent over last year. Advertising and circulation revenues for the year to September 30th are expected to show increases of 5 per cent and 2 per cent respectively with an increase in other revenues of 3 per cent," said the statement.

"The board continues to view prospects with confidence and believes that the company remains in a strong position to grow the press and radio division both organically and by acquisition," it said. - (additional reporting, Guardian service)