A strong showing from its consumer magazines has pushed British media giant Emap back into the black.
The group posted pre-tax profits of £140 million ($229m; €195m) for the twelve months to March 31, up from a shortfall of £69m the year before. Overall turnover dipped 6% to £967m – though when the effects of abandoning its disastrous foray into the US are stripped out, turnover rose 3%.
Growth was fuelled by the firm’s main Emap Consumer Media division, where underlying revenues jumped 6% on a 5% increase in ad income. Notable successes include British celebrity gossip title Heat, which saw circulation revenues surge 56%, and the US edition of ‘lads mag’ FHM, whose ad takings climbed 50%.
Emap’s business-to-business titles also grew, with underlying turnover increasing 2% despite continuing weakness in the B2B ad market.
Of the group’s other interests, underlying revenues increased by 2% at its British TV and radio assets and by 4% at its French magazine unit.
Data sourced from: Financial Times; additional content by WARC staff