Capitalising on ripples in the airwaves

Article Abstract:

Capital Radio PLC is one of the two largest independent radio stations in London. Capital Finance Director Patrick Taylor states that running the company's financial affairs is simple when compared to a manufacturing company because there are no inventories or assembly lines to control. The station was launched in 1973, has been profitable since 1976, and went public in 1987. When the firm went public in 1987, shares, which were offered at 26 pence (p), were oversubscribed 62 times. Share prices are currently 142p, down from a peak of 270p in 1989. Financial analysts have been down on the radio industry due to the general downturn in advertising expenditures across the economy. Independent radio stations attract 2% to 2.5% of total advertising expenditure. Anticipating the downturn, Capital Radio reduced overhead by 4% and realized a 5% increase in pre-tax profits.

Radio broadcasting stations, United Kingdom, Telecommunications equipment industry, Accountants, Capital Radio PLC, Great Britain, Taylor, Patrick

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Informed and on-message

Article Abstract:

The importance of chief executive officers and chief financial officers developing the appropriate communication skills to deal with investors is discussed, with focus on conveying information to financial analysts.

Methods, Analysis, Practice, Chief financial officers, Financial analysts, Investor relations

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A problem shared is still a problem

Article Abstract:

The main issues affecting UK companies today are examined including red tape, investment plans and skills shortages.

Business enterprises

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