information about Emap's finances & income

Emap, the publisher of FHM, Smash Hits and owner of Kiss FM, has painted a gloomy picture for its radio businesses after admitting World Cup fever had bypassed its stations.
The media group said there was no sign of an upturn in the radio advertising market, and it expected a further fall in sales between April and June.
"There is little evidence of any real recovery in radio advertising, and airtime revenues are expected to show negative growth in the first quarter of the new fiscal year," said Emap.
Full-year turnover at the radio business, Emap Performance, fell 1% to £139m for the 12 months to March 2002, with radio advertising revenues falling 8%.
National revenues were down 14%, with local turnover slipping 2%. It said the downturn was distorted by a boom in government and telecoms spending in the previous year, making the revenue decline even steeper.
Emap Performance includes the Magic FM network, Key 103 in Manchester and Metro Radio in Newcastle. Kiss FM, the third largest commercial radio station in London, is Emap's biggest radio brand and one of the group's most coveted assets.
It is one of four radio groups jockeying for position in the anticipated shake-up following the relaxation of media ownership laws.
It will consider itself a predator but is also being seen as potential prey and a target of groups such as Capital Radio.
Elsewhere in the full-year results, Emap posted a pre-tax loss of £69m, due to a loss of £144m on the disposal of its US magazines business last year. In 2001 Emap made a loss of £527m on its disastrous foray into the US market.
However, total group turnover, excluding the US business, rose 3% to £938m, with revenues at the biggest division, Emap consumer media, rising 8% to £324m as Heat, FHM and Red continued to do well on newsstands.
But Emap said markets outside radio, such as consumer magazines and business-to-business display advertising, were either reasonable or improving and, overall, it had made a good start to its new financial year.
"Current trading patterns provide the board with cautious optimism for the year ahead," it said.
But the company added: "Although the last 12 months have proved to be a difficult trading environment for most media companies, there are signs that in the first quarter of the new fiscal year market conditions for certain of the group's businesses are improving."
The group has become a persistent target of break-up rumours. However the market remains fond of focused media groups, despite the woes experienced by Granada and United Business Media since they spun off non-core assets. But Emap was bullish about its prospects as a unified business.
"Emap's forward direction is simple - more of what we do, better and deeper. The group comprises four excellent divisions with good organic growth prospects and development potential, and it is management's intention to realise this potential to the full," said Emap.