Magazine and radio group, Emap, has announced that it expects full-year results to be in line with its expectations, predicting a 1% increase in like for like revenues for the year ending 31 March 2005.
In a statement to the City this morning, the company forecast group revenues to rise by 2%, and is looking forward to “solid” year on year growth in 2005/06.
Emap’s core UK market enjoyed a strong performance, with consumer magazine copy sales revenues growing by 5% on an underlying basis. Closer, Empire and Arena showed particularly strong growth.
Consumer magazine advertising in the UK increased by 4% year on year, with Closer showing exceptional growth. This strong performance was offset by weakness across the music and teenage titles.
In France, consumer magazine advertising dropped by 10% on an underlying basis, with a marked deterioration in the second half of the year.
Radio airtime revenues from Emap’s analogue and digital stations in the UK outperformed the market in the second half of the year, finishing the year up by 2% after a very strong fourth quarter, driven by national advertising.
Music television revenues increased by 11%, helped by Emap’s new airtime sales contract with Sky which now includes The Hits on Freeview.
Emap predicts trading over March and April to continue to be healthy, with reasonable growth across the underlying portfolio.
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