Media: Chrysalis warns of a tough advertising outlook

Chrysalis, the owner of the Heart and Galaxy networks, has warned of a tough advertising outlook as it issued its second profit warning in two months. However, Chrysalis also reported a 3.2 per cent rise in revenues to £164.2 million. Pre-tax profits fell from £21.9 million to £5.5 million after it sold its television production business last year.

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