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'Outstanding performances' lead to record group results

“Outstanding performances” by Scottish Radio Holdings’ press and radio divisions has led to record turnover and operating profit for the group in the past year.

Announcing its preliminary results for the to September 30, the media group revealed that turnover from continuing operations, excluding acquisitions during the year, had grown by 12 per cent to £93.6m, with group operating profit rising by 16 per cent to £22.1m.

It currently publishes 45 local weekly newspapers in Scotland, Northern Ireland and the Republic of Ireland, and the continued success of these titles meant the division, Score Press, had seen profit rise 17 per cent to £11.2m, compared with the £9.6m achieved last year.

Like-for-like revenues and total revenues from continuing operations increased by nine per cent over last year with advertising and circulation revenues growing by ten per cent and eight per cent respectively.

SRH chairman Lord Gordon of Strathblane, said: “After another year of strong growth, we have been able to report excellent results, with outstanding performances from our two divisions – radio and press.

“The significant increase in revenues and operating profits is extremely encouraging and with strong operating margins, market-leading local radio companies and established local press titles SRH is well-placed for continued growth.

“The new financial year has started well with group revenues from continuing operations 14 per cent ahead of the same period last year.”

The company’s titles include the Longford Leader, Galloway Gazette, Carrick Gazette, Stornoway Gazette, Ballymena Times, Ballymoney Times, Banbridge Leader, Carrick Times, Coleraine Times, Dromore Leader, Larne Times, Londonderry Sentinel, Lurgan Mail, Midulster Mail, Portadown Times, Tyrone Times, Ulster Star, Brechin Advertiser, Deeside Piper, Donside Piper, Forfar Dispatch, Inverurie Herald, Kirriemuir and Mearns Leader.

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