Scottish Radio doubles half-year profits

Today FM owner Scottish Radio Holdings said today first-half profits surged due to increased advertising at its newspapers and…

Today FM owner Scottish Radio Holdings said today first-half profits surged due to increased advertising at its newspapers and radio stations.

The company's pre-tax profit rose to £6.9 million sterling from £3.4 million a year earlier. Turnover rose 28 per cent to £41.5 million

SRH has 23 wholly and partly owned radio services and operates five digital radio multiplexes in Britain and Ireland.

Today FM, Ireland's only independent national radio station, has continued to build audience share, the company said. The latest JNLR listenership survey shows Today FM's audience increased by 55,000 (6 per cent) on the same period last year to an all-time high of 995,000 listeners every week.

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The company's newspaper division publishes 43 local weekly newspaper titles, including 23 in the North and five in the Republic.

The company described the growth seen in both radio and publishing during the first half as "extremely encouraging."

The company raised its interim dividend 8 per cent to 6.5 pence and said trading in the second half had "started well".