Emap has published a trading update for the full year ending 31 March 2007, saying that the outcome is in line with current expectations.
The publisher says that in consumer, and radio in particular, market conditions have been weak, although B2B is continuing to perform well.
Total revenue growth track, says Emap, is on track to deliver total revenue growth of 3%, with underlying growth down 2%.
The company said that it is on track to deliver £20 million of annualised cost savings in 2008/09 through operational efficiency initiatives which are progressing to plan.
Emap said that its digital revenue is expected to be up 35% on last year, at £127 million, with its initiative to develop its big B2B brands progressing well.
Tom Moloney, Group Chief Executive, said: “Despite the widely reported challenges in some of our markets we are on track to deliver 3% revenue growth for the year.
“Within our consumer businesses we are increasingly allocating resources to take advantage of the opportunities available to us on faster growth platforms, through our content, brands and reach.
“B2B continues to make good progress in the new environment, having already felt the impact of digital. We believe that the actions we are taking to reshape the Group will position us to deliver sustainable growth.”
Speaking at the recent MediaTel Group Future of Magazines seminar, Emap Consumer Media CEO Paul Keenan said that changes in Emap’s consumer business will see job losses at the publisher (see Job Losses To Come At Emap’s Consumer Business)
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