Radio advertising revenues were better than expected in January...

Radio advertising revenues were better than expected in January rising 1.38%.
Radio advertising is proving to be very resilient , even with weak economic growth/consumer confidence.

The notice of legal challenge against PNW in making the necessary budgetary cutbacks for MTR is warranted in my view. There needs to be fundamental changes to the way MTR operates at a cost level. MRN are very astute financial managers and will overcome the issues facing MTR one way or another.