Radio Avon turnaround

Press, 28 August 1986, Page 27

Radio Avon turnaround

Radio Avon, Ltd, had made a complete turnaround, and was now trading profitably, the chairman, Mr R. J. Stewart, told the annual meeting yesterday. Staff had been reduced, and costs had been trimmed. Now that the FM Radio Station issue was resolved, Radio Avon would position itself in the market place to take

account of this factor, and Mr Stewart said he was confident that the station would do well.

An interim dividend will be paid for the current financial year, and the company was “cashed up” as it had sold most of its investments. It was now computerised and highly restructured, and wellplaced to take advantage

of any opportunities, Mr Stewart said. Two directors who were to retire by rotation did not attend. Mr P. L. Mortlock, ex-chair-man, informed the meeting through the secretary, Mr David Clark, that he had withdrawn his consent to be available for re-election. Accordingly he has ceased to be a director.

Mr Noel Wesney’s ab-

sence was noted, and be was not put forward for re-election. He also has ceased to be a director.

As there were no other nominations, the Radio Avon board has been reduced to five members: Messrs R. J. Stewart (chairman), I. J. Kirkpatrick (deputy chairman), F. T. Croft, A. W. Robinson, and D. J. Stock.