RadioWorks bullish

By Jo-Marie Brown

RadioWorks - the amalgamation of Radio Pacific and Radio Otago - made a $1.59 million tax-paid operating profit for the six months to September, $135,000 less than the individual companies did a year ago. But the bottom line was a $12.8 million loss as the group chose to write off in one hit the $14.4 million in goodwill arising from the acquisition of Radio Otago on August 1.

Chairman Derek Lowe said the directors anticipated the profit for the second six months would considerably exceed that of the first half. The interim dividend has been increased 1c to 8.5c, payable to shareholders registered at December 3.