Magazine and radio group, Emap, has revealed a 5% rise in pre-tax profit up to £205 million, boosted by a strong performance in its consumer magazine division, with new magazine Grazia be achieving its targets in terms of sales and audience profile.
Turnover for the group was revealed to be up by 2% to £1,068 million, while total group operating profit enjoyed an increase of 7% to £229 million.
Emap’s radio division responded well to last year’s investment in programming and reformatting, with Magic 105.4 now establishing itself as one of the “big three” commercial stations fighting for leadership in the London market.
The group’s digital network continues to grow, with 86 digital radio stations on DAB and 8 national stations on Freeview, cable, satellite and online. This comprehensive network along with a portfolio of strong brands such as Kiss, Magic, Smash Hits and Kerrang!, has resulted in Emap becoming number one in digital radio with around 16 million listening hours and £4 million of revenues this year, up from £1 million last year.
Magazines were shown to have performed well, with FHM obtaining its highest share ever of the men’s monthly market, at 56%, responding to the launch of the men’s weeklies, Zoo and Nuts by relaunching in August 2004 with revitalised monthly content.
Commenting on the results, Tom Moloney, Emap group executive said: “Even in a tough year for Emap, we’ve achieved normalised growth of 4%. Our UK consumer magazine and B2B businesses have performed well, but trading conditions have been more difficult in radio and in France.”
He continued: “We have started the new financial year well, and although the economic outlook is uncertain, we are in line to deliver against our full year expectations.”
The group remains optimistic about the coming year, with consumer magazine circulation revenues continuing to show good growth into the new financial year and advertising for the medium showing strong overall year on year growth for the first quarter.
B2B display advertising and sponsorship is continuing to grow in line with the strong increases seen in the second half of last year, while in radio, advertising is outperforming a weak market, with a modest year on year decline in April but growth expected for the group across the first quarter as a whole.
Overall, Emap has started the new financial year well and although the economic outlook is uncertain, the group is in line to deliver against its full year expectations.
Related Links
