Fairfax: Radio Revenue UP!

Fairfax chief executive Greg Hywood shared some good news to the market this morning, announcing that overall group revenues were up just under 1 percent.

For the radio side, Fairfax Radio stations were up 9% cent on a continuing business basis. That result excludes 96FM which was sold to ARN but does includes the newly combined Fairfax and Macquarie Radio Network brands for four weeks of the trading results.

The figures released are for the period January 1 to April 26, mirroring the same reporting period of 2014.

Some of Fairfax’s other media properties did not perform as well with Publishing revenues down 7% and Australian Community Media down 8% overall but their Metro Media which includes the Domain web portal was up 7% compared to the same period last year.

In the trading update Fairfax did note: “…we continue to incur costs to take advantage of growth opportunities”

You can view the full Conference Presentation and Trading Update here.