UK media group Emap says it is on course to meet full-year profit forecasts, despite tough market conditions.
The company expects revenues to climb one per cent in the first half-year to September 30, while analysts predict full-year pretax profits to rise more than 8% to £222 million ($392m; €326m).
The group says: "Having reached the halfway stage of the year in what is undoubtedly a tough environment, current trading indicates that the group remains on track to deliver in line with its expectations."
In the UK its consumer magazines are showing strong ad revenue growth, driven by weeklies such as Heat and Closer, where ad sales climbed 5%.
Emap's French magazines, on the other hand, have been hit by "a general slowdown in consumer related advertising spend and overall uncertainty around the [French] economy". Advertising revenue is expected to sag by 5%.
The company, which agreed this summer to buy Scottish Radio Holdings in a £391m deal [WAMN: 22-Jun-05], expects radio revenues to be up 2% in H1, and for its stations to outperform the market.
Data sourced from Financial Times Online; additional content by WARC staff