GCap Media, a commercial radio group, has reported a decrease in profit to GBP5.6 million for the six months ended September 30, 2007 compared with GBP5.8 million for the same period in the previous year.
For the six-month period, the company has reported a fall in total revenues to GBP100 million compared with GBP102.2 million for the same period of 2006. The company has basic earnings per share of 1.3 pence compared with 2.5 pence in 2006.
On a like for like basis, revenues were up GBP4.3 million, 4.5% year on year.
Ralph Bernard, CEO of the company, said: During the half we have made significant strategic progress. We continue to focus on maximizing efficiency and the savings we have identified so far, together with the revenue initiatives we are undertaking, mean that we are on track to target an operating margin of 12-14% by March 2009.