Consumer Mags Advertising Resilient, Radio Still Down At EMAP
EMAP chairman, Adam Broadbent, today delivered a confident trading update to the company’s AGM, saying that trading expectations for the full year are achievable.
With the first quarter of the fiscal year now complete, the company has seen a resilient performance in its consumer magazine advertising levels, with good underlying growth. Circulation revenues are well above the same period last year, with Heat magazine performing particularly well.
Radio airtime sales remain down across Q1, but there are now signs of a marginal improvement. Television revenues from the company’s six digital music channels are growing strongly, but still only comprise a small proportion of EMAP’s overall revenues.
After a strong start in April, business to business recruitment revenues have turned negative across the quarter. The trend on display advertising continues to improve as prior year comparisons become easier, although year-on-year growth has not yet been achieved, said Broadbent.
The group’s French operations are continuing to show a strong advertising performance, with good underlying year on year growth.
At midday today shares in EMAP were down 10p at 760p.
