Classic FM owner reports that trading so far this year has been 'very encouraging'
Radio group GWR has reported a 37.5 per cent rise in pre-tax profits.

GWR, which owns analogue station Classic FM and 63 per cent of new digital multiplex Digital One, said on Friday (26 May) that trading since the beginning of the year had been 'very encouraging.'

Sales grew by just over 21 per cent to£102.3 million, while underlying pre-tax profits rose from£18.1 million last year to£24.9 million.

GWR Group chairman Henry Meakin said Classic FM had attracted 'markedly higher advertising revenues' and that initial reaction to Digital One, which launched last November, had been 'encouraging'.

Earlier this year GWR announced the spin-off of its internet interests into a new company called Ecast Ventures.