Emap is on track to meet end of year targets, with healthy revenues flowing into the company, according to chairman Adam Broadbent.
The cross-media corporation held its AGM yesterday and there was general satisfaction at performance in the year to date.
Broadbent said that Emap had been “performing reasonably well” given the state of the media markets. Consumer magazine revenues appear solid and advertising is holding up well.
The B2B sector has recovered from an uncertain start to 2003 with evidence of improvement in recruitment and display advertising. Radio advertising has been strong all year and special mention went to the London stations, Kiss and Magic for outperforming the market. The only area of concern is music television, where airtime revenues have slowed considerably.
Emap recently gained approval for the takeover of France’s Excelsior Publications making it the second largest consumer magazines publisher in that country. However, the French market remains challenging and trading is flat compared with last year.
In conclusion, Broadbent professed: “In the round we remain cautious about any material improvement in the wider media markets, but at this relatively early stage in the year we remain in line to meet our expectations for the full year.”
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