Emap has said that its continuing group revenue, adjusted for disposals and closures, is expected to be up 1% in total and down 1% on an underlying basis in the first half of 2007.
It expects B2B to deliver good revenue growth, up 5% in total and on an underlying basis. There has been good growth from our information products, up 14%, and events, up 6%. B2B magazines are broadly flat in the period.
Consumer magazine revenues are expected to be down 8% in total in the first half. On an underlying basis, revenue is expected to be down 7%, with circulation down 4% and advertising down 11%.
In Radio revenue is expected to be up 2% after an improved second quarter. Excluding the Republic of Ireland stations, revenue is expected to be flat, with London down 5% and the Big City network up 2%.
Alun Cathcart, executive chairman, said: “Overall, trading is in line with our expectations. The consumer magazine market remains challenging, although indications for the second half are more encouraging. There is real momentum in our B2B activities and tangible signs of improvement in radio. We remain focused on examining all options to maximise shareholder value and are encouraged with the progress of the review.”
Emap recently sold its Australian magazines business to ACP Magazines for £38 million (see Emap Sells Australian Magazine Business).
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