Scottish Radio Holdings swung to a full-year profit from a loss last year citing a rebound in advertising and continued strength in local advertising spending.
The company, the owners of Today FM and a host of Irish regional newspapers, said pre-tax profit in the year to September 30th was £11.8 million sterling, compared with a loss of £13.5 million a year earlier.
SRH said the first two months of the new financial year were promising, with radio revenue up 9 per cent and press revenue up 3 per cent.
For the year, turnover from continuing operations climbed 18 per cent to £83.5 million, with like-for-like turnover up 6 per cent. Net turnover was flat with the year-ago period. Dividends rose 8 per cent to 19.5 pence per share.