LRC publishes positive set of figures

The Local Radio Company has announced positive results despite a difficult trading year. The 30-strong group says its expects a 4% increase in like-for-like revenue for the six months to March 31.

In a trading statement ahead of its interim results, it says that revenue from national sales, through a joint venture with First Radio Sales, has been “exceptionally strong” and it forecasts this to continue in the second half of the year.

LRC, which is led by former Jazz FM chief Richard Wheatly, says that its revenue performance has been offset by investment in in-house web design and sales to support its online strategy, as well as the start-up costs of its new station in Northallerton in North Yorkshire.

It adds that it has continued to make progress in developing its portfolio online and has seen a three-fold increase in online sales in the second half of the period.