THE Emap media group is getting the message through to the City that it is still very much on the expansion route and will be spending even more on new magazine launches this year than the #13.5m of last year.
Chief executive Robin Miller said that the money would be split pretty evenly between Britain and France.
The launch of Red magazine, aimed at women in their late twenties, has performed better than expected with a likely audited sale this summer of over 200,000 copies.That will take over the running from FHM (For Him Magazine) which has already topped 750,000 copies and is now being rolled out in Australia. It is also hoped to introduce it into Malaysia and Singapore.
The interest in France arises from the improvement in that country's economy with products such as Top Sante helping offset what Miller expects to be a slowing British scene later this year.
Pre-tax profits in the year to March advanced 17% to #142m, excluding exceptional items, with the company claiming an underlying improvement of 22%.
Miller stands down next month to be succeeded by Kevin Hand who currently heads the French operations.
Profits were helped by the contribution from the Nursing Times magazine which was acquired last November as part of the Macmillan healthcare portfolio for #103m. While Emap launched many new magazines during the year, it churned the portfolio and sold 17 titles which it felt no longer fitted into the group for a total of #16.4m.
Profits from radio rose 11% to #22.7m, helped by strong advertising revenue with the impetus coming from sales to national rather than local advertisers.
Emap bought Melody Radio from Hanson for #25m with regulatory approval being granted last month. The station, with over one million listeners, will come under the Emap Magic marketing umbrella which also covers Kiss 100FM. Emap's radio interests are the market leader in the 15-44 age group with a 17.7% share.
The shares, which have hit record highs in recent weeks, slipped 12.5p to 1281p in what was a weak market overall.
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