Media group Emap, has predicted it’s full-year performance to be in line with forecasts, despite the relatively early point in the new financial year and a “degree of uncertainty” regarding the economic outlook.
In a trading statement released by the group, it said that it expects to meet its expectations for the full year, buoyed by “good growth” in consumer advertising and a strong performance from its weekly magazines titles.
Speaking at the company’s annual general meeting, Adman Broadbent, chairman of Emap said: “Consumer magazine circulation in the UK continues to show good growth with particularly strong performances from the group’s portfolio of weekly titles. The launch of Grazia remains firmly on track.”
Revenues from B2B display advertising and sponsorship continue to demonstrate the strong growth seen in the second half of 2004, with the outlook for Emap’s exhibitions business in the current year remaining strong. However, the company is not optimistic about a turnaround in recruitment revenues, with an increasing slowdown.
Emap’s radio assets have performed well, with Broadbent saying: “We have outperformed a weak advertising market in the first quarter, delivering good growth compared to a market experiencing year on year declines. This out-performance is a trend we saw in the second half of our last financial year.” Overall, Emap is optimistic about delivering against its full year expectations.
Last month, Emap secured control of Scottish Radio Holdings (SRH) for £391 million, seizing control of the company’s 22 radio stations and selling its newspaper interests off to Johnston Press for £155 million (see Emap Buys Scottish Radio Holdings).
SRH’s take-over will see its 22 radio stations form part of Emap’s portfolio, with possible rebranding to extend the reach of several high-profile networks. The move marks a continued consolidation of the radio industry, following Capital Radio and GWR’s merger earlier this year.
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