UK-headquartered magazine mammoth Emap informed investors Tuesday that pre-tax profits for its fiscal year (ending March 31) will be “marginally ahead of consensus expectations”.
In spite of the media slump, the group anticipates underlying revenue growth of around 1%, plus gains in market share in most of its core markets.
Boosted by the success of titles such as Heat, Kerrang, Red, Max Power and New Woman, Emap’s magazine division is forecast to post a 7% rise in full-year revenues, though this represents a slowdown from the 10% growth in the first six months of 2001.
Its radio unit also suffered in the latter half of last year. Full-year turnover is now predicted to drop 11%, following a less severe 7% H1 decline.
Emap also predicted a “modest increase” in revenues for the next financial year, with some signs of an upturn in the ad market. “Looking at April and May specifically, forward advertising bookings are showing some improvement compared with the fourth quarter of the current year,” the group said.
Data sourced from: Financial Times; additional content by WARC staff