EMAP Writes Up Bigger Profits

Consumer and business publisher Emap has bucked the economic gloom by posting a big jump in profits today.

The group, which also has interests in radio and exhibition organising, made a profit of £66.4 million before tax during the six months to 30 September, compared with £47.4 million last year. Turnover was up at £410.2 million from £376.1 million for the same period.

Chairman Robin Miller said: “These record profits demonstrate the quality of our products, the talent of our people and the way we have run the business. We have, of course, been helped by the economy with strong revenue growth and improving margins.”

EMAP’s chief executive, Kevin Hand, said that he has set the company the target of doubling its size within the next five years. This will be achieved through new acquisitions and overseas launches, he said earlier today.

Hand also confirmed that the publisher will be channeling up to £5 million into the launch of its mysterious Project J (see A Taste Of Emap’s Project J), a new weekly magazine due for launch next Spring. This will be EMAP’s largest magazine launch to date in terms of promotions.

EMAP: 01733 568 900