Chrysalis Group, the music company, says that trading its in line with expectations after a year of “immense change”. It is the group’s first results since the sale of its radio division during the summer.
It has reported pre-tax losses of £3.3m compared to £3.7m for the previous year on group revenue up from £56.4m to £67.9m. It has also revealed that is made £100.5m profit on the sale of the radio division, which include the Heart and Galaxy brands.
The group has warned that the trading environment remains uncertain and that it will continue to monitor is position in the industry. It says that the division will have an “encouraging level of visibility” for Chrysalis in the New Year with a greatest hits album from David Gray and new albums from Gnarls Barkley, Feeder and The Raconteurs.