City File: Structural rise

WAITING for the long-predicted structural rise in radio's share of the UK advertising cake is a bit like waiting for Godot. Logically, it should have more than 5 per cent of the total expenditure, rather than its current 2.8 per cent.

Mark Davies Jones at Smith New Court reckons the tide is at last turning. He says radio advertising should grow by 7 per cent this year and 14 per cent next and investors should pile into Capital and Metro Radio shares.