‘I usually start the week by reviewing the press cuttings and checking our share price. I’ll also look at the performance of other companies in our sector. Media stocks have been very strong lately, mainly due to improving global advertising forecasts and increased M&A activity, and our share price has reflected this – it’s increased from £5.80 at the beginning of the year to around £15.00 now, making us a £1.2 billion company. If the price does jump, I’ll speak to analysts and our financial PR company, Finsbury, to find out the reasons behind the price move, and brief the chief executive, who I report to.
In the past week I have been planning our US roadshows. Over the last two years we’ve visited cities on the East Coast and Mid-West and I’m currently looking at schedules, as we’re finding there is more and more US interest in Capital Radio. We regularly give presentations and speak to shareholders and analysts one-on-one. We like these meetings to be a two-way process where we discuss strategy and ask for feedback, and this has helped us to build up some good relationships.
It is very much our ethos to be as open and direct as we can on issues of disclosure. In the past, Capital has found that poor corporate communications has led to misunderstandings with investors and analysts. We make a conscious effort to answer all questions openly and this approach has allowed us to build up trust among investors.
Presentations aren’t the only way we stay in touch with investors and analysts, of course. This week I’ve been writing a quarterly newsletter which is designed to keep them updated on what’s been going on at Capital, and give them background data on audiences and revenue.
I’ve also been working on our annual report, writing copy, checking facts, working with the designers and ensuring that it contains the right balance of messages. The annual report has to work for lots of different audiences, from students to customers and investment managers, so in design terms it must reflect all elements of the company.
We are revamping our corporate web site and developing a company intranet, and I’ve had meetings this week on both projects. We will run the web site alongside our consumer sites, but include information targeted at business users and customers, and have a dedicated IR section.
I am responsible for co-ordinating our public affairs activities too, and this week I have been finalising our response to the Department of Trade and Industry’s consultation document on mergers and acquisitions. This is a subject close to our hearts since our deal with Virgin Radio was referred to the MMC a couple of years ago, and we’re working hard to demonstrate to the authorities that radio competes with other media for advertising revenues.
I spend about 10 percent of my time working on internal communications and last week I visited two of our regional radio stations, which we typically visit every six months to give a presentation and talk to staff. It’s important for us to stay in touch with the issues that matter to them, as well as updating them on what’s happening across the group.
I really enjoy being part of the team developing corporate strategy, defining the key issues and refining our messages. As a well-known radio company, we have a high profile for our size but have relatively limited resources compared to other, larger companies. Despite this, I love working for Capital – it’s a special place with some very special people.
Whatever happens through the week, when Friday evening arrives I go for a drink with my colleagues at the Radio Cafe, which is owned by Capital and conveniently located beneath our offices in Leicester Square. It’s a standard fixture for anybody who’s around, and a great way to wind down the week before heading home for the weekend with my family.’
