Chrysalis Radio, the UK's fourth biggest radio group, has belied the slowdown in radio advertising by reporting a big rise in the company's revenue.

In a trading update released ahead of the group's Annual General Meeting, Chrysalis reported an 18.6% year-on-year rise for the five months to the end of January, which ran in line with company expectations.

The group behind the Heart and Galaxy stations also announced a 15.5% year-on-year rise in revenues at LBC, which underwent a relaunch following Chrysalis' acquisition of the station last year.

Chrysalis chairman Chris Wright commented: "This strong revenue performance is particularly pleasing in the light of the difficult trading environment our industry continues to face. Our outperformance under these conditions demonstrates not only the ability of the group to continue delivering market share gains, but also our ability to convert this audience growth into revenue growth."