Success Of Closer Helps Drive Revenues At Emap
Emap has said in a trading update this morning that group revenues for the first half of this year are expected to be up 2%, with celebrity gossip magazine Closer being cited as a key driver.
Emap’s consumer media division, which includes Closer, is expected to be up 6% year-on-year for the six months ending 30 September 2004. However, it is the group’s business to business sector, Emap communications, that is forecast to see the greatest improvement, growing 10% over the period.
The statement issued this morning said UK consumer magazine copy sales revenues have grown by 5% over the last six months, with Closer being a significant factor in the success, along with other titles such as Bliss, FHM and new men’s weekly magazine, Zoo, which is already ahead of schedule with over 200,000 copies sold each week.
The growth in Emap’s B2B division is thanks to ‘extremely strong’ growth in its trade exhibitions which are up 14%, with display advertising gaining momentum in the second quarter, pushing underlying growth for the six month period to 4%.
Consumer magazine advertising in the UK has also experienced improvements, up 3%, once again boosted by Closer. However in France, this decreased by 4%, reflecting a weakness in its Tele Star and Tele Poche titles.
Looking to October, the group said advance bookings for radio, which saw revenues slip by 2% in the first half of the year, are good, indicating that the improved trading conditions in the second quarter are continuing across autumn. Revenue growth of around 10% is expected across September and October, with television income continuing to be robust into summer.
For the full-year, Emap expects UK businesses to have performed in line with expectations, with there being no further deterioration in France. The group’s half-year interim results will be issued on 16 November 2004.
Emap: 01733 568 900 www.emap.co.uk
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