Emap Buoyed by Consumer Magazines

13 November 2002

Rising circulations and ad revenues at consumer magazines helped British media giant Emap beat expectations for its fiscal first half.

Between March and September, pre-tax profits (excluding exceptional items and amortisation of intangibles) jumped 23% to £86 million ($137m; €135m), above analysts’ forecasts of £80m to £83m.

Emap’s revenues fell 13% to £477m following the disposal of its US arm last year. However, revenues from continuing operations rose 5%.

Star performers include the celebrity-obsessed Heat, where circulation revenues more than doubled, and rock music title Kerrang!, where advertising surged by 60% and sales income by 50%.

Such growth made up for continuing ad weakness at Emap’s business-to-business titles and radio arm, the latter suffering a 7% fall in revenues.

Data sourced from: Financial Times; additional content by WARC staff