GWR broadcasts warning

GWR broadcasts warning

GWR, the radio group, yesterday warned a shortfall in advertising revenues at Classic FM, its classical music station, had held back profits for the year to March. Ralph Bernerd, the chief executive, said a change of sales director just before Christmas had led to the station, which accounts for 30 per cent of the group, taking pounds 1.5m less in revenues than expected. He said the station would still make full-year profits over pounds 4m - the first in its history. The shares slipped 14p to 178.5p.