Emap has reported pre tax profits profits of £223m, up nine per cent
from last year, citing the strong launch of Grazia for its consumer
sector performance, up three per cent.
The company spent £25m on
launches, with £8m each on Grazia and the French edition of Closer and
major international investment in the Australian version of Zoo.
The
sale of Emap's French division, which the company said was "initiated
and on track" is expected to be completed by September. Initial bids
are reported to have reached more than £440m, above analysts'
expectations for the division, which had suffered in the fierce TV
listings market in France.
The next round of bidding is on May 31
with Italian media groups Mondadori and RCS Media plus Bertelsmann's
Gruner+Jahr thought to be in the running.
Related
The group's B2B sector
also performed strongly with revenue up 12 per cent, attributed in part
to its first Cannes Lions, the ‘Oscars' of the advertising community,
an event that Emap Communications bought in 2004.
The acquisition
of Scottish Radio Holding boosted radio revenues by 44 per cent, which
were just one per cent up excluding the purchase.
Content from our partners
Email pged@pressgazette.co.uk to point out mistakes, provide story tips or send in a letter for publication on our "Letters Page" blog
