EMAP Profits Rise 35%

Annual financial results released today by media group EMAP show that pre-tax profits have risen 35% to £86.5m and turnover has increased 29% from £547.1m to £705m. EMAP also announced the sale of its regional newspapers and printing businesses (see today’s Newsline).

Amongst its consumer magazines operating profits rose 21% (to £39m) on revenues up 10% (to £211.7m), reflecting strong advertising growth (increasing by 10%) driven mainly by higher yields, continuing improvements in cover price yields and lower losses from newly launched titles. Overall, circulation revenue grew by 10%, largely due to cover price increases.

Profits from the group’s business communications grew 49% (to £25.6m) on revenue up 43% (to £170.8m), with advertising increasing by 7% and circulation growing by 9%. Amongst its newspapers and printing interests, operating profits grew 3% to £9.6m on turnover of £100.8m (up 5%), with ad revenue growing by 4% despite paper prices increasing 35%.

Revenue and profit also grew in radio: revenues were up 106% to £46.6m and operating profits grew 178% to £14.6m.

EMAP: 01733 68900