The independent radio station, Today FM, recorded its first monthly profit in December, the annual general meeting of one of its main shareholders, Scottish Radio Holdings, was told yesterday.

However, Scottish Radio Holdings chief executive, Mr Richard Findlay, would not comment on the exact profit figure. He said the annual accounts of Today FM, published next month, would contain the details.

It was also announced at the a.g.m. that the Scottish company has decided to increase its share in Today FM from 19 per cent to 22 per cent. The shares are being bought from music entrepreneur Mr Robbie Wooton for an undisclosed sum.