Revenues at Emap are expected to rise by 9% in its 2003 financial year and the group says that it is confident of delivering results in line with expectations.
The figures announced prior to the preliminary results, scheduled for 25 May 2004, show that total group revenue is up by 9% (5% at constant currency). Underlying group revenues rose by 3%. A breakdown of the results is as follows:
| Emap Pre-Close Trading Figures, Year Ending 31 March 2004 |
| |
|
| Emap Consumer Media |
up 3% (up 6% underlying) |
| Emap Communications |
up 9% (up 6% underlying) |
| Emap Performance |
up 3% (down 2% underlying) |
| Emap France |
up 18% (up 2% underlying) |
Advertising made a strong come back with B2B display advertising increasing by 11% and consumer magazine advertising up 4%, this will rise to 6% when Closer magazine is included in underlying analysis on 4 May.
Radio airtime revenue from Emap’s analogue and digital stations has also shown a strong growth of 7%. This was largely driven by the national advertising market towards the end of the year.
Due to a highly competitive battle for TV audiences, TV revenues dropped by 3%. The main cause for this was carriage fees and interactivity revenues largely offsetting declines in advertising revenues.
B2B recruitment advertising and trade exhibitions also strengthened throughout the year and are expected to increase by 2% and 6% respectively.
UK consumer magazine sales revenue maintained good momentum with an increase of 2%, despite the announcement only a day before the results that UK Style magazine The Face would be suspended and teen mag J-17 would be closed. This is expected to jump to 8% when Closer is included.
Emap is confident that there is a place in the market for men’s weekly magazines. Emap said: “We are comfortable that ZOO, launched in January 2004, is ahead of its original business plan.”
In the US figures for FHM‘s circulation have been maintained at 1.2 million and thanks to a improved advertising mix, advertising revenues have grown by 21%.
Sales of Emap’s French titles, Tele Star and Tele Poche, slowed down in the first half of this year however there were improvements in the second half. Emap said: “It is too early at this stage to assess long-term impact this might have.”
Advertising revenues in France increased by 4%.
Bookings for Emap’s new financial year shows a modest improvement for the UK advertising market. France bookings are behind last year’s , indicating that the strong growth seen in the second half of last year is slowing down.
