AccessMyLibrary provides FREE access to over 30 million articles from top publications available through your library.
Create a link to this page
Copy and paste this link tag into your Web page or blog:
Radio interests push Chrysalis Group back into black. (News).
The strong performance of the Chrysalis Group's radio interests were credited in part with sending the company back into the black as it reported pre-tax profits ahead of expectations for the year ended August 31.
Pre-tax profits were 5.8m [pounds sterling] compared with a loss of 16.8m [pounds sterling] in the same period last year on sales up 25% to 241m [pounds sterling]. Group earnings before taxes, depreciation and ammortisation (Ebitda) reached 17.2m [pounds sterling], a seven-fold increase on 2.2m [pounds sterling] the previous year.
Chairman Chris Wright says the financial year was the "most successful in the company's history", pointing to the group's radio interests, with growing audiences for Heart and Galaxy stations and the recent acquisition of LBC.
The group's music division, driven largely by Lasgo Chrysalis and its publishing arm, increased turnover by 8% to 63.8m [pounds sterling] compared with 59.2m [pounds sterling] last year. Its total net publishers' share rose by 5% on the previous year to hit a record total of 8.5m [pounds sterling].