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