Chrysalis defends performance after profit warning

Radio company Chrysalis has assured the City that trading is in line with expectations despite disappointing audience and advertising figures. The assurance was necessary after the company issued a profit warning for forthcoming accounts, with income hit mainly by recent ratings disappointments at its main London music station Heart 106.2. But the company were keen to stress recent profit disappointments were also down to the "volatility in the national advertising market", and that recent improvements in that area meant revenues were now back on track.